VatorNews | Project Slice gets $9.4M to organize receipts: DCM, Lightspeed, FLOODGATE and other prominent investors fuel All My Purchases launch

From VatorNews:

Financial trends and news by Ronny Kerr
May 26, 2011

Recently, I created an unsophisticated system for tracking purchases I’ve made online. It’s just a Gmail filter: I’m gradually training my account to label Amazon order confirmations, ticket orders and any other purchases with the tag “$$$.” It’s hardly complete, it depends on me constantly training the filter to catch new kinds of emails and many orders end up getting lost in the mix.

There might be a better way.

Project Slice
, a startup emerging from stealth, announced Thursday that it has completed raising $9.4 million in Series A financing in a round led by DCM and Lightspeed Venture Partners. Other participants include Bebo creator Michael Birch, FLOODGATE (Mike Maples), Innovation Endeavors (Eric Schmidt) and Playdom founder Rick Thompson.

What Project Slice wants to do is replace my tiring and hardly comprehensive system with a new, much more sophisticated model for tracking and managing purchases based on their electronic receipts.

“Somewhere in your email, there’s a record of everything you’ve ever bought online, but all that valuable information that’s supposed to make your life easier is worthless if you can’t put your finger on it when you need it most,” said Scott Brady, CEO and co-founder of Project Slice. “With ‘All My Purchases,’ we’re taking the headache out of online shopping by organizing post-purchase information from your email receipts, so that you don’t have to. It’s free, easy to use and virtually effortless.”

All My Purchases, a completely free service officially launching in the new Yahoo! Mail, automatically scans every email you receive for receipts, which it carefully files away for your later reference. On the main page, every item lists the date of purchase, order number, retailer from which the purchase was made, shipping information and any other pressing data. All the other details are just a click away.

As an added bonus, All My Purchases will track orders you’re still waiting for, with a real-time map that shows you where your purchase is and when it should arrive. And if you’re unhappy with an order? Just click to see the return policy on the right-hand column.

From big merchant orders at Amazon and Apple to daily deals purchases, Project Slice’s All My Purchases catches every single receipt.

Unfortunately for me and many others, All My Purchases is still in beta for Gmail. A company spokesperson tells me that, though the Gmail functionality is not fully baked, it still manages to catch about four in five receipts. Not bad, but “the official Gmail launch is on the horizon.” (This is particularly amusing when you consider that Eric Schmidt’s VC firm is a participant in this round.)

Founded in 2010, Project Slice will use its new funding to continue development of new services for streamlining the online shopping experience.


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