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Apricot Capital LLC, a new seed investing group launched by two young angel investors, has made its first investment. Jennifer Lum, former vice president of advertising at Quattro Wireless, and Peter Wernau, a private investment manager, formed Apricot earlier this year.
The new angel group has invested an undisclosed amount in Peekaboo Mobile, a Boston startup that makes software for retailers to push out mobile coupons and discounts. In September, Mass High Tech wrote about Peekaboo as one of a number of mobile discount startups skipping the check-in feature that has made competing services like Foursquare popular.
“In a short period of time, they have developed a great mobile platform to connect businesses and consumers through locally targeted offers,” Lum said of Peekaboo in an email. “They are building out a solid revenue model and they’ve established impressive partnerships with companies such as Where, Constant Contact and CardStar and will be announcing others shortly.”
Peekaboo’s two founders say they plan to use the funds to hire a sales director. “We have a pretty aggressive sales plan,” said co-founder Mike Fruzzetti.
Lum was an early employee at Quattro, after working as chief of staff with Quattro co-founder Andy Miller at his prior startup, m-Qube. M-Qube, a mobile marketing channel software maker, was acquired by Verisign Inc. in 2006 for $250 million.
Editor's note: A previous version of the article provided an incorrect name of the seed investing group. The group's name is Apricot Capital LLC.
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