Memmo.me, a startup that lets users pay celebrities for personalized video messages, announces that it has raised $ 10 million in Series A funds.
“We are very excited about our mission to break down these barriers [and help talent] Connect one on one instead of one in a thousand, ”said Co-Founder and CEO Gustav Lundberg Toresson.
He added that celebrities see this as a new source of income. It’s especially attractive during the pandemic, but he predicted that after the pandemic ends, celebrities will still be excited about “making so much money from their living rooms”.
The concept probably reminds you of Cameo (in fact, Tiger King’s Carole Baskin is present on both platforms), but while Cameo is based in the US, Memmo was founded in Stockholm and Lundberg Toresson said its strategy is both global and localized – The company currently operates localized marketplaces for Sweden, Germany, Finland, Norway, the United Kingdom, Spain, Italy and Canada, as well as a general global market.
“We want to be the place where you can find everyone from world-famous talent like a football or basketball star to local musicians,” he said. “It’s about using localization to find out who is most relevant to you, wherever you are.”
The startup says it sent more than 100,000 messages worldwide and its revenue grew 50% every month between July last year and January 2021.
The round was led by Left Lane Capital, with founder and CEO Harley Miller joining the Memmo board of directors. Lukasz Gadowski, Co-Founder of Delivery Hero, FJ Labs, Maria Raga, CEO of Depop, Spencer Rascoff, Co-Founder of Zillow, Inbal Leshem, Former Groupon Operations Manager Inbal Leshem, Fredrik Hjelm, Former CEO of Udemy, Dennis Yang, and Elias Aalto, Co-founder of Wolt also attended.
“We were impressed with the pace at which Memmo has expanded its offering across markets where localization is critical to unlocking market liquidity,” Miller said in a statement. “The ability to monetize the gap between wealth and fame for talent and celebrities while also allowing them to delve deeply into fans is a trend that the pandemic only underscored.”
Although Left Lane is New York-based, Lundberg Toresson said he was particularly excited about the company’s understanding of the market and that its investment did not signal an imminent US launch.
Memmo has now raised a total of $ 12 million. The new funding allows the startup to add new features like live video and expand its business offering, where companies can hire celebrities to create promotional videos for external marketing or internal employee engagement.