US-based video commerce startup Packagd has emerged from stealth with a $6m series A round led by GV, the corporate venturing arm of internet technology conglomerate Alphabet.
Venture capital firm Forerunner Ventures co-led the round, which followed a hitherto undisclosed $1.5m seed round led by VC firm Kleiner Perkins Caufield & Byers.
Founded in 2016, Packagd is building a network of video-based shopping apps that will operate similarly to mobile versions of traditional home shopping television channels. Its first app is a curated technology-focused show called Unboxed.
GV general partner MG Siegler said: “There is a pretty clear trend of people, and young people in particular, gravitating towards the influencers they trust when it comes to making buying decisions.
“This will have profound ramifications in commerce going forward and it’s right where Packagd is aiming to play.”