Cameo’s European rival Memmo raises £7.1M; video messaging service books celebrities to create personalised shoutouts
US-based Cameo turned into instant success since founded in 2016 by Steven Galanis, Martin Blencowe, and Devon Spinnler Townsend. An app that allows celebrities to send personalised video messages to fans.
While the idea became a founders’ and VCs’ dream, Swedish founders Gustav Lundberg Toresson and Tobias Bengtsdahl also launched its European rival Memmo.me, a video platform that allows fans and businesses to request personalised video greetings from public figures, celebrities, sportspeople, and influencers.
Now the celebrity video greeting platform has secured an €8.2 million (approx £7.1 million) Series A funding round. To date, the company has raised over €9.8 million (approx £8.5 million).
Who backed memmo.me?
The round was led by New York-based VC firm Left Lane Capital, along with the participation from Lukasz Gadowski (Delivery Hero co-founder), FJ Labs (marketplace fund founded by Fabrice Grinda), Maria Raga (CEO of shopping app Depop), Spencer Rascoff (co-founder of Zillow Group), Inbal Leshem (former Operations Director at Groupon), Fredrik Hjelm (Voi Technology CEO & co-founder), Dennis Yang (former Udemy CEO), and Elias Aalto (co-founder of food delivery unicorn Wolt).
As a part of the round, Harley Miller, Founder and Managing Partner at Left Lane Capital, joins the Memmo board. The company will use this funding to expand globally and cement its position as Europe’s sector leader.
Pay UK celebrities to make video shoutouts for you
Right now, the company operates in its native Nordic region, Canada, the United Kingdom, and across Europe. In the UK, memmo.me experienced explosive growth since its launch in November 2020. It’s worth mentioning that the platform hosts a vast array of British celebrities and influencers.
At present, the platform has thousands of celebrities with about 100,000 video messages created globally.
Used in various scenarios
The Stockholm-headquartered platform has been used for a range of recorded videos, including proposals, pep talks, roasts, and gender reveals, with the likes of Carole Baskin (Tiger King), Mike Modano (NHL Hall of Famer), Sven-Göran Eriksson (former England soccer team manager) available.
memmo For Business
On the other hand, memmo For Business enables companies to request messages to help with sales, marketing and also boost employee engagement. Videos for congratulating staff, presenting internal awards, or making announcements as part of marketing materials, have all been requested via the platform.
Our mission is to break down the barriers that previously prevented fans and businesses from engaging with famous personalities,” comments memmo CEO and co-founder Gustav Lundberg Toresson. “Last year we took a leading position in Europe and Canada. Demand skyrocketed in Q4 and then just continued to rise in 2021. The year ahead is going to be one of rapid growth because the foundations we have built will enable us to further capitalize on society’s continual embracing of digital experiences, so we couldn’t be happier to welcome Left Lane onboard, a firm with a strong track record for backing marketplace-driven companies. Their expertise, knowledge, and network will be invaluable for us.”
Harley Miller, Founder and Managing Partner at Left Lane Capital, comments: “We’ve been impressed with the pace at which memmo has expanded their offering across markets, where localization is critical to unlocking marketplace liquidity. The ability to monetize the gap between wealth and fame for talent & celebrities, all the while allowing them to engage deeply with fans, is a trend that was only further underscored by the pandemic. We look forward to supporting the memmo family in their journey, and are honored to partner with such an ambitious team.”
“We could probably launch in every country in the world right now if we wanted to, but that would go against our philosophy of providing world-class experiences,” adds Gustav Lundberg Toresson. “Our market launches are carefully managed and highly localized. By doing this we become the preferred partner for talents who want to meaningfully connect with fans and businesses, while at the same time creating a new revenue stream for them.”