MyThings Gets $5 More Million ‘Things’ In Round B

Image representing MyThings as depicted in Cru...

Another round B was announced for an Israeli startup today. Mythings, developer of a Personal Belongings Portfolio, managed to rack $5 Million in round B funding before the funding window closes.

The round was led by Dotcorp Asset Management and London-based GP Bullhound Sidecar. In May of 2006, MyThings has raised a series A of $8 Million led by Accel Partners and Carmel Venture Capital.

MyThings was founded in 2004 under the name Swift-Find by the Zaiman Family and Benny Arbel, who currently serves as CEO. In its first incarnation, it was a real time registry of new, used and stolen goods. Since Dec 2006, the company has split its services into two channels: Trace.com, a site for professional users conducting due diligence on lost or stolen items and Mythings.com, an online catalog of your valued belongings , enabling users to keep track on what they buy online, as well as their valuable collectibles.

To keep track of your online purchases, MyThings lets users forward emailed receipts from product purchases or manually add items that were purchased. In addition to creating your personal catalog, MyThings also offers a variety of services:

Users can remain anonymous and mark their items as private if they want more privacy. The price of the valuable is never revealed (unless the owner requested a valuation).

Unfortunately, the system is not free of flaws. It’s slow, and after trying to search for a number of items using the site’s auto-complete box, the results came up empty for each one of the services mentioned above. MyThings already started integrating directly on the ecommerce sites, enabling users to upload shopping information directly onto their MyThings profile. Some of the partners include Tesco Direct, TigerDirect.com, CNET.co.uk, Sotheby’s, Shopping.com and more. But again, the product falls a bit short with some of the retailers, including NewEgg.com, RRW reports.  Hopefully, the new funding can help the company fix some of these issues.

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October 13, 2008 | Comments
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