Sesamy, a new Swedish startup, lets people purchase audio and ebooks online for any device. In a recent development, the company just announced that it bagged €4 million (nearly £3.5 million) in a seed funding round.
The investment was led by London-based VC GP Bullhound, which has made investments in prominent tech startups and brands including Unity, Slack, Spotify, Glovo, Avito and Revolut; early Spotify investor, Stockholm-based digital experts, Edastra; and Peter Dahlberg, Founder and ex-CEO of AniCura. Per Roman, Co-Founder and Managing Partner at GP Bullhound, and Hampus Hellermark, Associate at GP Bullhound, will be also joining the board.
UK, an early key consumer target market
The funding will be used towards the international expansion in 2021. This includes an expansion in the UK later this year. Also, it will continue to ensure the platform is at the cutting-edge of usability while providing a more viable digital model for the creation and consumption of content.
Per Roman, Co-Founder and Managing Partner at GP Bullhound commented: “When Måns and Karl told me about their new business, their vision immediately felt right. As lead investors we were able to put together a syndicate and invest in less than a week, to help the company accelerate with speed.”
“I have followed Karl and Måns’ entrepreneurial journey for over a decade,” commented Robert Ahldin, Founder of Edastra. “Edastra wants to help Sesamy eradicate zombie subscriptions by making content more easily available to more consumers, and thus open up larger markets for content creators.”
“Sesamy offers a better alternative to subscriptions, which are very often good for business but not always good for the consumer or creator.” explained Peter Dahlberg, Founder and ex-CEO of AniCura.
“We are committed, at Sesamy, to creating a new digital model that opens up the internet: providing more for consumers and content-makers, alike,” commented Måns Ulvestam, Founder and CEO of Sesamy. “With this aim, we are delighted that such prestigious investment firms are placing their trust in this mission: to evolve a new, more sustainable platform for culture and information. The internet was never intended to wall us inside platforms. At Sesamy, we envision a space that does justice to digital content, its diligent creators, and passionate consumers.”
Revolutionises access premium content
Sesamy was established by the founders of the largest global podcast company — Acast – Karl Rosander and Mans Ulvestam — in March this year. The company works to revolutionise the way people access premium content, which is demonstrated by the high level of investment in the platform at its launch.
The launch of Sesamy’s audio and ebook store marks the first step towards liberating the world of from paying for large volumes of unused and unwanted content. It provides single purchases and frictionless consumption of digital content. Also, it adds new ways to engage the creators and aims to de-wall and re-democratise access to copyrighted, digital content.
This new platform creates a novel revenue stream and opportunity for direct-to-fan engagement for writers. Also, individual authors are directly remunerated for any sales generated through their personal channels.