Photo-sharing startup EyeEm has raised $18 million to accelerate the expansion of its recently launched photo marketplace according to CEO Flo Meissner. They currently have a community of 13 million photographers across 150 countries.
The EyeEm’s unique social aspect to generating content in their marketplace gives them a “truer” feel than other stock photography and allows amateur photographers a space to get paid for their efforts. They have been building machine-learning algorithms that identify the visually appealing apects of images. Some of the money they have received will help them create “missions” to help them find new content.
Meissner says their ongoing goal will be technology. They want to index every image in the world and give access to every image to everyone who owns a smart phone. To date, EyeEm has only launched in the United States, but looks to expand to other markets.
New York-based Valar Ventures led the round, and Meissner writes that all of the startup’s previous investors (Earlybird Ventures, Passion Capital, Wellington Partners, Atlantic Labs and Open Ocean Capital) also participated in the round.
The PACA/Digital Medial Licensing Association’s Conference Program continues to build with sessions focused on helping you build and grow your business! You won’t want to miss out on this great educational and network opportunity. Registration rates go up on Tuesday, September 16, 2014. Register today
Investing for Growth: Options in Venture Capital and Private Equity
Access to capital is paramount for taking your business to the next level. Now more than ever venture capital firms and private equity groups are eager to invest in digital media licensing companies. Learn from our panel of seasoned investment professionals how to present your company to potential investors, identify investment partners well suited to your growth strategy, and how to close your first round of funding. 1 hour with 1/2 hour question period.
Moderator: Rick Leckrone, Blend Images
Panelists: • Brett Hickey, Star Mountain Capital • Laura Sachar, Starvest Partners • John Frankel, ffVC • Andy Yang, 500px.com