Celebrity video platform Memmo.me has raised $12 million in funding. Left Lane Capital led the round.
LOS ANGELES, LONDON & STOCKHOLM: AUGUST 12TH – memmo.me, the video greeting platform that connects celebrities one-to-one with fans and businesses, has raised another $12M, following its Series A in February 2021, and opened an office in Los Angeles. Existing investor New York-based Left Lane Capital, a VC firm with a proven track record of backing successful marketplace companies, led on the round, which takes memmo.me total investment to-date to $24M.
Participating in this round is a host of industry titans from across investment, music, film, and sports, including: Ted Chervin (Founding Partner and Board Member at talent agency ICM Partners), Mike Caren (CEO of Artist Partner Group and Creative Officer at Warner Music Group), Andrew Singer (President of Broadway Video Film & Television), Packy McCormick (Founder of the Not Boring newsletter and club), and Todd Lieberman (Partner and Co-Owner of Mandeville Films and Television).
Existing investors participating again include: Luxor Capital, FJ Labs (marketplace fund founded by Fabrice Grinda), Spencer Rascoff (co-founder of Zillow Group), Maria Raga (CEO of shopping app Depop), Inbal Leshem (former Operations Director at Groupon), Mats Diedrichsen (former CMO at Delivery Hero), and Geoff Cook (CEO of The Meet Group).
The company, founded in 2019, will use this latest investment to continue its global expansion, including to Latin America, and develop new product features, including social media interactions.
Since memmo.me’s $10M Series A in February, the company has experienced 40% monthly growth, and has bolstered its global team from 20 to over 60.
Hundreds of thousands of videos have been sent via the platform, which has been used for congratulations on COVID-19 vaccinations, life advice, award announcements, persuading friends to stay together, love letters, baby shower and wedding invitations, spiritual readings, and quizzes. The platform also enables creators to offer social media collaborations and sell their own products, merchandise, and services.
The likes of Jesse Metcalfe (actor in Desperate Housewives), Tori Spelling (actress and author), Dikembe Mutombo (NBA star), Chuck Lidell (UFC star and Hollywood actor) and LuAnn de Lesseps (television personality, model, author, and singer) are available, with more being added daily.
The company has launched in its native Nordic region, Canada, the United Kingdom, and across Europe.
“We are on the path to becoming the go-to platform for creators and fans to interact,” comments memmo.me CEO and co-founder Gustav Lundberg Toresson. “We have already cemented our position as the leading player within Europe and Canada, and have so much momentum behind us as we open our first office in LA, and continue to launch into new markets around the world. Demand for connecting with our talent is continually growing, and we are onboarding more and more household names to the platform every single day. We’re delighted that Left Lane is backing us again, after establishing such a productive relationship with the team since the Series A, and we also welcome a whole host of industry-defining investors who, through their expertise, experience, and networks, will propel us to the next level.”
Harley Miller, Founder and Managing Partner at Left Lane Capital, comments: “We continue to be impressed with the pace and cadence of further market expansion and product innovation from the memmo team. In just 6 short months since we’ve been investors, the company has demonstrated the maturity of organization that most later-stage growth companies never achieve. Leading another round into the company reflects our support for the team and conviction in the market opportunity, which is a universal/global theme, addressed at the local level.”
The Digitization of Greeting Messages
Since the outbreak of the COVID-19 pandemic, with restrictions limiting human interactions and live entertainment, memmo has seen demand for its fun and lighthearted greetings skyrocket.
Carefully Managed and Highly Localized Market Launches
Before launching in a new market, memmo takes time to truly understand the local culture and utilizes teams to work with people on-the-ground well in advance of any public rollout. With this unique geo-targeting approach, memmo not only provides relevant local talent with prime exposure on its platform, but also ensures that customers receive the very best experience possible, rather than being presented with a one-size-fits-all interface.
memmo.me is a platform that allows fans and businesses to request personalized video greetings from public figures, celebrities, sportspeople, and influencers. Founded in September 2019 by Forbes 30 Under 30 honorees Gustav Lundberg Toresson (CEO) and Tobias Bengtsdahl (COO), memmo is headquartered in Stockholm, Sweden, and employs a team of over 60 people across Sweden, the UK, North America, throughout Europe, and Australia.
For more information please visit www.memmo.me.