TroopSwap.com Raises 2.5M in Series Seed Preferred Equity Offering
Military Discount Platform Partners with LEGO® to Serve Military Families for the Holidays
McLean, VA (PRWEB) December 13, 2011
TroopSwap.com, a fast growing ecommerce platform exclusively for veterans, service members and military dependents today announced that the company has closed on 2.5 million in equity financing in order to support the development of innovative technology that will allow companies to provide military discounts online for the first time. The company is also offering an exclusive discount on LEGO® products for members of the military, including veterans and their spouses, beginning this morning. Founded by two combat veterans and Harvard Business School alumni, Matthew Thompson and Blake Hall, the site has attracted over 30,000 members since its May 23, 2011 debut.
Blake Hall, TroopSwapÃ¢s CEO, noted that, Ã¢Å“Military discounts are commonly offered throughout the country, but national retailers and online stores previously did not have a way to offer those discounts online. TroopSwap has addressed that problem by forming strategic relationships that allow us to validate military affiliation online in a secure manner. Our partnership with LEGO® during the holiday season is just one terrific example of what is possible when customer-centric companies with wonderful products are empowered to delight the military community.Ã¢
TroopSwap is a member of the First LadyÃ¢s Joining Forces initiative to support military families via the Department of DefenseÃ¢s Military Spouse Employment Partnership. The Service Disabled Veteran Owned company further serves the military community by donating 10% of the companyÃ¢s profits to the Wounded Warrior Project and by focusing on employing veterans and military spouses, who collectively represent over 90% of the companyÃ¢s workforce.
Well-known investors backing TroopSwap include: McCombs Partners, Blu Venture Investors, Jay Campion, General Partner at Access Ventures, Roy Terracina, Owner of Sunshine Ventures, Marty Abbott, former Army Officer and CTO of eBay, Larry Cochran, Chief Executive Officer at IAS Claims, and Kelly Perdew, Chief Executive Officer at TargetClose and winner of Season 2 of NBCÃ¢s The Apprentice. Kelly is also a former Army Ranger and a TroopSwap board member. Lieutenant General (RET) Daniel Christman, former superintendent of the United States Military Academy at West Point, and Anthony Principi, former Secretary of Veteran Affairs, both serve as advisors to the company.
Troopswap.com is the first e-commerce platform exclusively for military families. Our mission is to reward a life of service. We limit eligibility to veterans, service members, and their immediate family members. We partner with merchants to provide great deals for the military community. We focus on employing veterans and military spouses in the markets where we are active. 10% of our profits are donated to the Wounded Warrior Project. To learn more, please e-mail: firstname.lastname@example.org or follow TroopSwap on Facebook at facebook.com/TroopSwap or Twitter @TroopSwap
Co-Founder and Chief Executive Officer
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