Richmond, Virginia, July 12, 2022 (GLOBE NEWSWIRE) -- Virginia Venture Partners, the equity investment program of Virginia Innovation Partnership Corporation (VIPC), today announced an additional investment in Card Isle. Blacksburg, Va.-based Card Isle is changing how greeting cards are distributed in a retail landscape. Since VIPC’s initial investment in 2020, Card Isle has grown 120% year-over-year in individual greeting card sales by onboarding over 250 new partner retailers. Additionally, Card Isle’s initiative to enter the world of eCommerce grocery has gained significant traction with Harmons Grocery, a 20-store grocery chain based in Utah.
Even as the world becomes increasingly digital, paper greeting cards are still a favored way to greet and connect with others to celebrate life’s special moments. However, it can be difficult to find a card that is perfect for the occasion and exemplifies everything one wishes to say. Card Isle makes purchasing personal cards fun and accessible by arming users with the ability to customize card messages and photos online. Once the perfect card is created, the card is then printed on-demand at local distribution centers convenient to them and included in the box with the rest of the order.
“Through our latest fundraising round, Card Isle is well capitalized to bring our specialized greeting card experience into massive new verticals like grocery ecommerce. We were thrilled by the response around Mother’s Day in 2022, validating a strong demand for Card Isle products in grocery stores,” said Adam Donato, Founder and CEO of Card Isle. “As a company created and built in Virginia, we are proud to have the continued support of VIPC for a follow-on investment.”
Card Isle’s solution offers personalized greeting cards designed by local and independent artists through any ecommerce site. With thousands of designs for businesses and users to choose from and create meaningful greeting cards, Card Isle retail partners typically see about 15-20% of orders adding a greeting card to their cart. This makes it easier on both the company and the consumer when having options to decide what is perfect for their card.
“Most people have experienced exasperation in a greeting card aisle, whether it is a search for a birthday card, anniversary occasion, or the multitude of reasons we send cards to our loved ones. Card Isle allows customers to easily design greeting and photo cards through their website, in-store, or over the phone at their own convenience,” said Tom Weithman, VIPC Chief Investment Officer and Managing Director of Virginia Venture Partners. “Since VIPC’s first investment in 2020, as well as an additional $75,000 follow-on grant from the Commonwealth Commercialization Fund (CCF), Card Isle continues to demonstrate impressive growth including recently securing a long term contract with a major retail partner. The Virginia Venture Partners team at VIPC looks forward to being part of Card Isle’s continued impact.”
About Card Isle
Card Isle Corporation is a technology company that is rethinking how greeting cards can be distributed in a changing retail landscape. They combine crowd-sourced designs with distributed printers to empower grocers, florists, and gift retailers to provide personalized greeting cards to their customers. A Techstars Alumni company based in Blacksburg, Virginia, Card Isle is dedicated to empowering connections between people with accessible, playful, and personalized greeting cards. For more information, please visit www.cardisle.com.
About Virginia Venture Partners
Virginia Venture Partners, is the equity investment program of VIPC that makes seed-stage equity investments in Virginia-based technology, clean energy, and life science companies with a high potential for achieving rapid growth and generating a significant economic return for entrepreneurs, co-investors, and the Commonwealth of Virginia. Since its inception in 2005, Virginia Venture Partners has deployed $32.4 million in capital across more than 250 portfolio companies, including 17 companies in designated Opportunity Zones. Virginia Venture Partners’ investment decisions are guided by the Virginia Venture Partners Investment Advisory Board (IAB). This independent, third-party panel has drawn from the expertise of leading regional entrepreneurs, angel, and strategic investors, and venture capital firms such as New Enterprise Associates, Grotech Ventures, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources. For more information, please visit www.virginiaipc.org/vvp.
About Virginia Innovation Partnership Corporation (VIPC)
Connecting innovators with opportunities. The nonprofit operations arm of the Virginia Innovation Partnership Authority (VIPA), VIPC is the commercialization and seed stage economic development driver in the Commonwealth that leads funding, infrastructure, and policy initiatives to support Virginia's innovators, entrepreneurs, startups, and market development strategies. VIPC collaborates with local, regional, state, and federal partners to support the expansion and diversification of Virginia’s economy.
Programs include: Virginia Venture Partners (VVP) | Virginia Founders Fund (VFF) |Commonwealth Commercialization Fund (CCF) | Smart Communities | Unmanned Systems | Entrepreneurial Ecosystems | Regional Innovation Fund (RIF) | Federal Funding Assistance Program (FFAP) for SBIR & STTR | University Partnerships | Startup Company Mentoring & Engagement. For more information, please visit www.VirginiaIPC.org. Follow VIPC on Twitter, LinkedIn, and Facebook.
Attachments
- VIPC’s Virginia Venture Partners Invests in Card Isle to Support Continued Growth of the Greeting Card Industry
- Virginia Printing Company Offers Personalized and Print Boutique-quality Greeting Cards at Convenience
