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Scoutmob raises $3M as the Atlanta startup pivots to e-commerce

04/10/2014

Atlanta-based Scoutmob has raised about $3 million in venture capital, short of the $5 million it had been seeking.

The Series B raise comes as the mobile technology startup pivots from a daily deal service to an artsy e-commerce business.

Scoutmob previously raised $5 million. The latest capital was raised from existing investors AOL Ventures, 
Capitol Broadcasting; Cox Enterprises, Inc., Ben Lerer of Thrillist, and New Atlantic Ventures

The $3 million will be invested in customer acquisition and product development around Shoppe, Scoutmob's e-commerce business.

Scoutmob, which employs about 25,  
cut about a third of its workforce last month as it realigns the business. Co-founder Michael Tavani has left Scoutmob to pursue other entrepreneurial ventures.

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