Holler Raises $36M for Conversational Media Platform

Holler Secures $36 Million in Series B Funding

Holler, a company defined by its founder and CEO Travis Montaque as a “conversational media company,” has recently announced the successful completion of a $36 million Series B funding round.

The Role of Conversational Media

While the term “conversational media” may be unfamiliar, it’s highly probable you’ve already interacted with Holler’s technology. Specifically, Holler powers the search and suggestion features for media within the Venmo payment application, such as stickers and GIFs. A subtle “powered by Holler” notice can often be found at the bottom of the media selection window.

From Content App to Messaging Focus

Montaque explained that the company initially began as a news and video content platform. However, a strategic shift towards messaging occurred in 2016.

He emphasized the significance of messaging as “the most crucial online experience,” as it facilitates communication with our closest connections.

Innovation in Text Messaging

Montaque observed a lack of substantial innovation within the text messaging landscape since the delivery of the very first text message in 1992.

Enriching Conversations Through Partnerships

Holler collaborates with companies like Venmo (owned by PayPal) and The Meet Group to integrate more engaging content into their apps’ messaging features. The startup’s core objective is to “enrich conversations everywhere,” as stated by Montaque.

The Art and Science of Content Suggestion

The process involves both creative and technical elements. Creating and curating high-quality stickers and GIFs represents the artistic side.

The scientific aspect is embodied by Holler’s Suggestion AI technology, which delivers relevant content recommendations based on the context of user conversations. Content preferences differ between a dating app and a professional work chat.

This context-aware approach allows for intelligent suggestions while prioritizing user privacy.

Context Over Identity

“I believe that the future hinges on context, not identity,” Montaque stated. “Detailed knowledge of an individual isn’t necessary; understanding their current needs is key.”

For example, recognizing a user’s desire for Mexican food is sufficient, without requiring a comprehensive history of their dining habits.

Monetization Through Branded Content

Holler generates revenue by partnering with brands such as HBO Max, Ikea, and Starbucks to develop branded stickers and GIFs. These assets are then incorporated into the company’s content library.

The startup also assists brands in evaluating the effectiveness of these campaigns using various metrics.

Growth and Expansion

Currently, Holler’s content reaches 75 million users monthly, a significant increase from 19 million users a year prior.

Revenue has experienced a 226% growth rate, marking the first year of substantial revenue gains for the company.

Funding Details

To date, Holler has secured over $51 million in total funding.

The Series B round was jointly led by CityRock Venture Partners and New General Market Partners, with additional participation from Gaingels, Interplay Ventures, Relevance Ventures, Towerview Ventures, and WorldQuant Ventures.

A Vision for Ethical Social Media

Oliver Libby, Managing Partner at CityRock, commented, “Holler represents more than just a technologically advanced company.” He further stated that, under Montaque’s leadership, Holler champions a new standard of ethics in social media, while also prioritizing diversity, inclusion, and belonging.

Future Development

Montaque, a Black tech CEO who previously shared his insights on increasing diversity in the tech industry with TechCrunch, indicated that the new funds will be allocated to further product development and refinement of the advertising model.

He also noted that while stickers and GIFs were the initial focus, the company is now exploring and creating novel media formats.

Inventing a New Content Paradigm

“Our ambition is to pioneer a completely new paradigm for content consumption,” Montaque concluded.