Snappr
Total amount raised
$13.1 Millions
Latest funding date
September, 2020
Snappr
Location
Title
Snappr has successfully raised $13.1 million over four funding rounds, with its latest Series A round completed in September 2020. The company specializes in on-demand visual content creation, offering services such as photography, videography, and AI image generation.
Keep reading to explore the intricacies of Snappr's fundraising journey and the investors backing this innovative platform.
What Is Snappr?
Snappr, founded in 2017, is headquartered in San Francisco, California, with additional locations in Sydney. The company was established by Matt Schiller, who also serves as the CEO.
Specializing in visual content creation, Snappr offers a range of services including on-demand photography, videography, and AI image generation. Their platform caters to both individual and enterprise needs, providing tools like Snappr Shoots and Snappr Workflows.
With a team of 51-200 employees, Snappr has built a robust network of pre-vetted photographers and videographers, ensuring high-quality visual content for clients across various industries.
How Much Funding Has Snappr Raised?
- Seed Round
- Amount Raised: $500,000
- Date: July 2016
- Motivation Behind the Round: To capitalize on early-stage investment tax incentives and strong investor interest.
- Seed Round
- Amount Raised: $120,000
- Date: March 2017
- Motivation Behind the Round: To support initial growth and development.
- Seed Round
- Amount Raised: $2,000,000
- Date: September 2017
- Lead Investors: Airtree Ventures, Lars Rasmussen, Justin Waldron
- Motivation Behind the Round: To expand services in the U.S., starting with the West Coast.
- Series A Round
- Amount Raised: $10,000,000
- Date: September 2020
- Lead Investors: Basis Set Ventures, Y Combinator
- Motivation Behind the Round: To build out the visual content marketplace and expand into new markets.
Total Amount Raised: $12,620,000
Current Valuation: $50,000,000 (~estimated)
Key Investors
- Y Combinator
- Details: Y Combinator is a renowned startup accelerator that provides seed funding, advice, and connections to early-stage startups. It has been instrumental in the growth of numerous successful companies.
- Investment Focus Areas: Software, hardware, healthcare, and more.
- Notable Investments: Airbnb, Dropbox, Stripe.
- Basis Set Ventures
- Details: Basis Set Ventures is a venture capital firm that led Snappr's Series A funding round. The firm focuses on early-stage technology companies.
- Investment Focus Areas: Artificial intelligence, enterprise software, automation.
- Notable Investments: Quilt Data, Labelbox, Workstream.
- YesVC
- Details: YesVC is a venture capital firm that participated in Snappr's Series A funding round. The firm is known for investing in early-stage technology and innovative startups.
- Investment Focus Areas: Technology, consumer products, sustainability.
- Notable Investments: Grove Collaborative, Tia, Pachama.
- Airtree Ventures
- Details: Airtree Ventures is the largest venture capital fund in Australia. It has a strong focus on high-growth potential technology startups.
- Investment Focus Areas: General technology, fintech, healthtech.
- Notable Investments: Canva, Prospa, Athena.
- Lars Rasmussen
- Details: Lars Rasmussen is the co-founder of Google Maps. He has a background in technology and innovation.
- Investment Focus Areas: Technology, mapping, innovative startups.
- Notable Investments: Not specified.
What's Next for Snappr?
Snappr is poised to capitalize on several significant opportunities. The company plans to expand its offerings for large businesses, introduce new features like 360-degree virtual tours and videography, and enter new markets. With a presence in 200 metropolitan areas and usage by 53.2% of Fortune 500 companies, the potential for growth is substantial.
Future fundraising seems likely as Snappr continues to grow. The aggressive hiring and expansion plans suggest that additional funding rounds may be on the horizon to support these initiatives. However, the company will need to navigate challenges such as competition from other on-demand platforms and managing rapid growth effectively.
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