Bright Raises $15M to Revolutionize Live Learning

Bright Secures $15 Million in Funding to Expand Live Video Platform

Bright, a platform facilitating live interactions between fans and prominent creators and celebrities, has announced a successful funding round of $15 million. The investment was jointly spearheaded by Sound Ventures, established by talent manager Guy Oseary and Ashton Kutcher, alongside RIT Capital and Regah Ventures.

Investor Details

The funding round also attracted participation from a diverse group of investors. These include TIME Ventures, the investment arm of Marc Benioff, Globo Ventures, Norwest Venture Partners, and AG Ventures, founded by Shawn Mendes and his manager Andrew Gertler.

Furthermore, Jeff Lawson, CEO and co-founder of Twilio, contributed to the round. A notable aspect of this funding is the direct investment from a range of artists, performers, and celebrities.

Celebrity Backing and Advisory Roles

Individuals such as Rachel Zoe, Drew and Jonathan Scott, Judd Apatow, Ashton Kutcher, Amy Schumer, Bethenny Frankel, and Ryan Tedder have all invested in Bright. Additionally, Jessica Alba, Kane Brown, and Maria Sharapova are joining the company as advisors, lending their expertise and influence.

Platform Origins and Core Concept

Bright was co-founded in May by Guy Oseary, a renowned manager representing Madonna and U2, and Michael Powers, a former YouTube product manager responsible for launching YouTube Channels. The platform aims to empower creators to monetize their influence beyond traditional ad-revenue models, fostering independent business growth.

Leveraging Existing Technology: Bright is strategically built upon the Zoom platform. This approach avoids the need for extensive in-house video technology development and capitalizes on Zoom’s widespread adoption, particularly accelerated by the recent pandemic.

Creator Growth and Platform Content

Initially launching with over 200 creators, Bright now boasts a network exceeding 320 notable personalities. This includes Madonna, Naomi Campbell, D-Nice, the D’Amelio Sisters, Laura Dern, Deepak Chopra, Lindsey Vonn, Diego Boneta, Jason Bolden, Yris Palmer, Cat & Nat, Ronnie2K, and Chef Ludo Lefebvre. The platform anticipates doubling its creator base by the end of the year.

Bright distinguishes itself from conventional social media by prioritizing knowledge-sharing over mere engagement metrics like likes and followers. Early sessions featured actor Laura Dern discussing personal development and streamer Ronnie2K offering insights into the gaming industry.

The platform hosts sessions across diverse categories, including craft, home improvement, finance, culture, wellness, and personal development.

Revenue Model and Commission Structure

Bright generates revenue by taking a 20% commission on creator earnings. This rate is slightly lower than the standard 30/70 split common in marketplaces, yet higher than some newer platforms like Clubhouse, which offer commission-free payments.

Creator Studio and Future Features

The new funding will be allocated to the development of Creator Studio, a comprehensive suite of tools designed to assist creators in managing sessions, communicating with their audience, and tracking revenue performance.

Upcoming Tools: Creators will soon have access to a sessions list tool for managing event announcements and ticket sales. Further enhancements planned for later this year include analytics, direct messaging capabilities, and a revenue tracking wallet.

Bright also intends to introduce interactive features such as instant polls and the ability to share learning resources with attendees. These additions aim to enhance the platform’s appeal and functionality.

Competitive Landscape and Differentiators

While facing competition from established tech giants like YouTube, Facebook, TikTok, and Twitter, Bright benefits from Guy Oseary’s extensive network, which has been instrumental in attracting high-profile creators. This network represents a significant competitive advantage.

“As a believer in lifelong learning, I’m proud to be investing in a platform like Bright, offering audiences the unique opportunity to learn directly from the artists and experts they admire the most,” stated Judd Apatow, a new investor and prominent director/producer.

Financial Performance and Future Outlook

Bright has not disclosed specific revenue figures, but reports that ticket prices for sessions typically range from $25 to $150 for events lasting one to two hours.

“It’s inspiring to have the support of incredible investors as well as these notable artists and entrepreneurs. All our partners share Bright’s vision that people want to level up their lives by learning directly from those they admire,” said Bright CEO Michael Powers. “We are excited to roll out our new features to continue elevating our platform and mission.”