Memmo Raises $10M to Connect Fans with Celebrities

Memmo.me Secures $10 Million in Series A Funding

Memmo.me, a company enabling users to commission personalized video messages from celebrities, has announced the completion of a $10 million Series A funding round.

Connecting Talent with Fans

Co-founder and CEO Gustav Lundberg Toresson expressed enthusiasm regarding the company’s core objective: to facilitate direct connections between talent and their audience, moving beyond traditional one-to-many communication.

He further noted the growing appeal of this platform as a revenue stream for celebrities. This is especially relevant during current global circumstances, but he anticipates continued interest in earning income “from their living rooms” even after the pandemic subsides.

A Global and Localized Approach

The service shares similarities with Cameo, another platform featuring personalities like Carole Baskin, however, Memmo.me distinguishes itself through its international focus.

Founded in Stockholm, the company is implementing a strategy that combines global reach with localized marketplaces. Currently, Memmo.me operates in Sweden, Germany, Finland, Norway, the United Kingdom, Spain, Italy, and Canada, alongside a broader global market.

Expanding the Definition of "Celebrity"

The platform aims to encompass a wide spectrum of talent. It strives to be the go-to destination for finding individuals ranging from internationally renowned stars – such as athletes – to local musicians.

Localization is key to connecting users with the most relevant personalities in their region.

Impressive Growth Metrics

To date, the startup reports facilitating the delivery of over 100,000 messages worldwide.

Between July of the previous year and January 2021, the company experienced a consistent monthly sales growth rate of 50%.

Investment Details

Left Lane Capital spearheaded the funding round, with founder and managing partner Harley Miller joining Memmo’s board of directors.

Additional investors included Delivery Hero co-founder Lukasz Gadowski, FJ Labs, Depop CEO Maria Raga, Zillow co-founder Spencer Rascoff, former Groupon operations director Inbal Leshem, Voi Technology co-founder Fredrik Hjelm, former Udemy CEO Dennis Yang, and Wolt co-founder Elias Aalto.

Investor Perspective

Harley Miller highlighted the company’s rapid expansion across diverse markets and the importance of localization in driving marketplace activity.

He stated that the ability to monetize the disparity between fame and wealth for talent, while simultaneously fostering deeper fan engagement, has been amplified by recent global events.

Future Plans

Despite Left Lane Capital being based in New York, Lundberg Toresson emphasized the firm’s expertise in marketplace dynamics, clarifying that the investment does not immediately precede a U.S. launch.

With a total of $12 million in funding secured, Memmo.me intends to introduce new features, such as live video interactions.

The company also plans to expand its business offerings, enabling organizations to engage celebrities for promotional content or to boost employee morale through personalized videos.