DailyBooth Inc., whose mobile platform allows users to communicate via photos and status updates, raised $6 million in Series A financing. Ignition Partners led the round, which included participation from Sequoia Capital and a group of undisclosed angel investors. The money will be used to fund the ongoing development of the DailyBooth platform and mobile applications.
Today, DailyBooth Inc. announced a $6 million Series A round of financing led by Ignition Partners, as well as continued participation from Sequoia Capital and a group of Angel investors. As part of the investment, DailyBooth (www.dailybooth.com) also announced that Ignition’s Chris Howard has joined the company’s Board of Directors. The new financing will accelerate the expansion of DailyBooth’s distribution and audience acquisition efforts, as well as fuel the ongoing development of the DailyBooth platform and mobile applications.
Founded in 2009, DailyBooth is a social communication platform connecting people to their friends in real-time through the use of pictures and status updates. DailyBooth hosts approximately 14 million photos or “booths,” as the community refers to snapped or uploaded photos, and more than 47 million comments.
“We are absolutely thrilled to partner with Ignition to scale DailyBooth, ” said Brian Pokorny, CEO of DailyBooth. “With this new round, we are focused on continuing to grow the community and scale our operations. Hiring world-class technical talent is our top priority, as we continue to innovate and fuel the growth of DailyBooth.”
The Front-Facing Camera Experience
DailyBooth is positioned to benefit from the growing iPhone, Android and Tablet markets, as the front-facing cameras on these devices are transforming mobile photo publishing. DailyBooth’s applications for web and mobile encourage consumers to snap photos with front-facing cameras to capture their faces at various moments in time. It is this face-driven ideology that enables DailyBooth to engage a large youth audience who prefer to communicate with pictures of themselves, as opposed to text or video.
“Ignition could not be more proud to be investing in DailyBooth,” said Chris Howard of Ignition Partners. “We believe DailyBooth is uniquely positioned as a platform to harness the distribution and engagement potential of the front-facing camera. After using the site regularly, we see DailyBooth as a new form of social communication, and our firm is thrilled to be contributing to the growth of one of the web’s most interesting communities.”
Your Life in Pictures
The DailyBooth audience is growing rapidly — with a network effect fueling total visits, photos and new users. DailyBooth, much like the early stage growth patterns of the web’s largest social networks, is showing signs of engaging core segments of early adopters. As the DailyBooth audience scales, the audience demographics continue to expand.
“The DailyBooth community continues to amaze us with their creativity and desire to share,” said Jon Wheatley, co-founder of DailyBooth. “With the front-facing camera becoming so ubiquitous across all these new devices, I can’t wait to see how the community grows.”
Founded in 2009 by Jon Wheatley and Ryan Amos, DailyBooth is a San Francisco based start-up created to reflect your life in pictures. A social communication platform, DailyBooth connects people to their friends in real-time through the use of pictures and status updates. DailyBooth investors include Y Combinator, Ignition Partners, Sequoia Capital, Betaworks, SV Angel, Lowercase Capital, Founders Collective and Angel investors including Kevin Rose, Caterina Fake, Michael Birch, and Steve Chen.
About Ignition Venture Management
Ignition Venture Management, an early stage technology venture capital firm was founded in 2000 to invest in a range of start-ups in the software sector including consumer, infrastructure, SaaS business software and services and telecom. Ignition’s portfolio includes Hipmunk, Topsy, Keas, Splunk, DocuSign, Cloudmark, SkyTap, and StorSimple. Recent exits include Heroku, Global Scholar and ChinaCache (Nasdaq: CCIH) IPO. On October 1, 2007, Ignition announced its fourth early stage fund, Ignition Venture Partners IV, which closed at $400 million. The firm manages over $1 billion in committed venture capital. For more information, visit the Ignition website at www.ignitionpartners.com.