Kwik Raises $3 Million to Take on Amazon Dash

Smart buttons from Kwik want to give Amazon Dash a run for its money

By Lulu Chang June 25, 2016

kwik button buying screen shot 2016 06 25 at 8 40 07 am — Image used with permission by copyright holder

Press a button, receive your heart’s desire. That’s been the guiding principle behind the increasingly popular Amazon Dash Buttons, which have made shopping almost painfully easy. But staying dominant in the space may not be as easy for Amazon now that Kwik has raised $3 million to give the online retail giant a run for its money, particularly in the form of button-based buying. The Tel Aviv-based startup is already working with Domino’s, Budweiser, Huggies, and other brands to lets consumers do what they do best at the touch of a button.

“Consumers like the convenience and simplicity of smart buttons,” said Sergio Monsalve, partner at Norwest Venture Partners, which recently invested in Kwik. “This market is too big for only one player,” he added, referencing Amazon. Moreover, because Kwik lets brands decide upon their own delivery and payment partners, Monsalve believes that the new company will attract a number of partners with its flexibility. “Their open ecosystem will enable the growth of many businesses, all along the supply chain,” he said.

Essentially acting as the middle man between the delivery and fulfillment partners, Kwik takes a cut of each transaction made on its buttons. And as founder and CEO Ofer Klein said, “any product which is a repeated service” might be best purchased via button. While smartphones are already delving into this concept, Klein believes that physical buttons are still easier, especially for those in older generations who are generally more averse to technology. That said, Klein noted that his target demographic are early adopters who see the benefit of buttons as the mechanism for repeat ordering.

Ultimately, Klein told TechCrunch, “people would like to just not think” when it comes to making purchases. A dangerous precedent to set, to be sure, but perhaps valid in today’s world all the same.

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