Kerry Washington Invests in Cheersy Wedding Marketplace

Kerry Washington Invests in Wedding Marketplace Cheersy

Kerry Washington is broadening her investment activities, taking the lead in the pre-seed funding round for the wedding marketplace, Cheersy.

Cheersy's Founding and Funding

Founded in 2024 by Amy Shack Egan, Cheersy connects couples with qualified day-of wedding coordinators. To date, the company has secured $550,000 in funding from various investors.

Notable investors include Elizabeth Cutler, a co-founder of SoulCycle, and Jennifer Gilbert, the founder of Save the Date. Guidance for this funding round was provided by Joanna Rosholm, formerly the press secretary for Michelle Obama, and Christina Tosi, who established Milk Bar.

Washington's Investment Journey

Ms. Washington was initially unavailable for comment regarding her investment. Shack Egan recounts meeting the actress through her director of social impact.

A conversation sparked at a Los Angeles dinner party led to an introduction, ultimately resulting in Washington’s participation as an angel investor. Washington is increasingly recognized as an active angel investor, joining other prominent figures from the entertainment industry who are venturing into the startup landscape.

Washington's Broader Investment Portfolio

Her investment interests extend to several other ventures. She is an investor in Spill, a social platform positioned as a Black-owned alternative to X (formerly Twitter).

Furthermore, Washington has provided financial backing to Equip, a company focused on eating disorder treatment, and, as reported by PitchBook, has invested in Omaze, a charity fundraising platform, and Solv, a healthcare company. She previously invested in The Wing, a women’s social club that ceased operations in 2022.

The Path to Investment

“I deliberately extended my trip to attend this dinner, recognizing the value of being present among influential individuals,” Shack Egan shared with TechCrunch.

Following the dinner, Shack Egan navigated the fundraising process, which she described as “challenging.” She admitted to a steep learning curve, encountering both setbacks and missteps throughout the process.

From Wedding Planning to Marketplace

This marks Shack Egan’s second entrepreneurial endeavor. She previously founded Modern Rebel, a wedding planning business established in 2015.

Cheersy was conceived in response to the frequent requests Modern Rebel received for day-of wedding coordination services – ensuring smooth execution on the wedding day itself.

“Day-of coordination consistently ranks as the most sought-after wedding planning service,” she explained. “Initially, I provided recommendations for this service, which then evolved into the idea of creating a dedicated marketplace.” Cheersy’s business model, she notes, is comparable to that of Airbnb.

How Cheersy Works

Couples can search for vetted coordinators based on their budget, aesthetic preferences, and specific needs, filtering by date, price, and area of expertise. They can then schedule consultations and, upon finding a suitable match, finalize the booking.

Challenges Faced During Fundraising

Shack Egan believes her experience as a small business owner was an asset, but acknowledged that investors often prioritized candidates with backgrounds in larger technology companies.

“The fundraising process can be emotionally draining and significantly impact one’s well-being,” she stated.

Future Plans for Cheersy

To further develop the platform and expand its team, Shack Egan participated in the Power to Pitch program, which facilitated connections within the startup community. The newly acquired capital will be allocated to enhancing the platform’s features and hiring key personnel, including a user experience designer.

Plans also include increasing the marketing budget and onboarding a community manager as the company prepares to launch in six additional cities, building upon its current presence in New York City and the Hudson Valley.

“Having started in the event industry in 2015, I am intimately familiar with the challenges faced by professionals in this field,” Shack Egan concluded. “I am passionate about creating a more supportive and enjoyable experience for those working in the wedding industry.”

This article has been updated to include information regarding the advisors for the funding round.