October 16, 2021

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Movie star video platform Memmo raises $10M – TechCrunch

Memmo.me, a startup permitting customers to pay celebrities for personalised video messages, is asserting that it has raised $10 million in Collection A funding.

“We’re actually enthusiastic about our mission to interrupt down these limitations [and help talent] join one-to-one as an alternative of one-to-thousands,” stated co-founder and CEO Gustav Lundberg Toresson.

He added that celebrities are embracing this as a brand new supply of earnings. It’s notably interesting in the course of the pandemic, however he predicted that celebrities will nonetheless be enthusiastic about “making this a lot cash from their residing rooms” after the pandemic ends.

The idea in all probability reminds you of Cameo (certainly, Carole Baskin of “Tiger King” fame has presence on each platforms), however whereas Cameo is U.S.-based, Memmo was based in Stockholm, and Lundberg Toresson stated its technique is each world and localized — the corporate is presently working localized marketplaces for Sweden, Germany, Finland, Norway, the UK, Spain, Italy and Canada, in addition to a normal world market.

“We need to be the place the place you’ll find everybody from world well-known skills like a soccer or basketball star, to the native musician down the highway,” he stated. “It’s all about utilizing localization that can assist you discover who’s most related for you, wherever you’re.”

The startup says it has been used to ship greater than 100,000 messages globally, and that gross sales grew 50% each month between July of final yr and January 2021.

The spherical was led by Left Lane Capital, with the agency’s founder and managing parter Harley Miller becoming a member of the Memmo board. Supply Hero co-founder Lukasz Gadowski, FJ Labs, Depop CEO Maria Raga, Zillow co-founder Spencer Rascoff, former Groupon operations director Inbal Leshem, Voi Expertise co-founder Fredrik Hjelm, former Udemy CEO Dennis Yang and Wolt co-founder Elias Aalto additionally participated.

“We’ve been impressed with the tempo at which Memmo has expanded their providing throughout markets, the place localization is essential to unlocking market liquidity,” Miller stated in an announcement. “The power to monetize the hole between wealth and fame for expertise & celebrities, all of the whereas permitting them to interact deeply with followers, is a development that was solely additional underscored by the pandemic.”

Though Left Lane is predicated in New York, Lundberg Toresson stated he was notably excited concerning the agency’s market experience, and that its funding doesn’t sign an imminent U.S. launch.

Memmo has now raised a complete of $12 million. The brand new funding will permit the startup so as to add new options like stay movies and to construct out its enterprise choices, the place firms can rent celebrities to create promotional movies for exterior advertising or inner worker motivation.

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