Cameo Reaches Unicorn Status with $100M Funding Round

Cameo Secures $100M in Series C Funding

Cameo, the well-known platform for personalized celebrity videos, has announced the completion of a $100 million Series C funding round. This investment, spearheaded by Jonathan Turner of e.ventures, values the company at over $1 billion.

Growth Fueled by Recent Trends

The service has experienced significant growth in recent years. It particularly benefited from the increased demand during the pandemic, as both celebrities and individuals sought new ways to connect.

CEO Steven Galanis highlighted the shift in the entertainment landscape in a recent Medium post. He stated that the pandemic accelerated the adoption of direct-to-fan engagement models.

A New Era of Fan Engagement

Galanis explained that talent are now more inclined to forge deeper connections with their fans. Fans, in turn, are demanding greater access to the personalities they admire. This new funding will be instrumental in developing the infrastructure for this “connection economy” on a global scale.

Investment Details

This latest funding round more than doubles Cameo’s total funding, bringing the total raised to $165 million. A diverse group of investors participated, including Google Ventures, Amazon Alexa Fund, UTA, SoftBank Vision Fund 2, Valor Equity Partners, and Counterpoint Global (Morgan Stanley).

Existing investors such as Lightspeed Venture Partners, Kleiner Perkins, The Chernin Group, Origin Ventures, and Spark Capital also contributed. Notably, skateboarding icon Tony Hawk is among the “talent investors” involved.

Expanding Beyond Birthday Wishes

Approximately 80% of video requests on Cameo are currently for gifts, often celebrating occasions like birthdays. To date, around two million videos have been created through the platform.

However, the company is actively pursuing expansion into new areas. Last year, they introduced the option to book celebrities for live Zoom video calls.

Focus on Business Applications and International Expansion

A portion of the funding will be allocated to Cameo for Business (C4B). This service connects businesses with celebrities for events, conferences, advertising campaigns, and sales initiatives.

Furthermore, Cameo intends to broaden its international reach, aiming to increase the proportion of videos purchased outside the United States, which currently accounts for approximately 20% of total sales.