Pepper, an LA-based startup that wants to help other startups keep track of their spending, announced today it raised $5.6 million, as reported by TechCrunch.
Funding is an important part of any startup. However, it doesn’t always mean success. Pepper was created to help young direct-to-consumer businesses and other ventures better understand how to use investments to ensure every dollar received is improving the health of the company.
Five of Pepper’s six founders are alums of social media company, Snap. Other Snap employees have also invested in or are advising Pepper, including former chief strategy officer, Imran Khan; former head of global sales, Jeff Lucas; and Cristina Grace Borow, who formerly focused on brand partnerships and is also Pepper CEO James Borows’ wife.
The specifics of what Pepper will offers to its users remains unclear. However, Borow told TechCrunch that the platform will remain free when it launches in beta in the first quarter, that privacy was designed into “its core” and that premium paid-for features will be rolled out in 2020.
