Itsme social platform announces $15.175MM funding14/04/2021
Social media platform Itsme has announced that $15.175MM in Series A funding has been raised.
The funding includes investment from Alexis Ohanian’s Seven Seven Six, Third Kind Ventures, Allen & Company, Scott Belsky and Adam Silverschotz.
Lead investor Alexis Ohanian said: “I’m joining this board in order to help Itsme achieve its ultimate goal of creating a welcoming space for people to be their authentic selves.
“It’s poetic given how Aakash and John met that we all get to work together on accelerating the tremendous growth this app has already achieved.
“I’ve seen first-hand how much they value trust and safety, and when you combine that with an amazing mobile experience built by and for Gen Z, you’ve got all the makings of another pillar of the social web.”
The idea behind Itsme was born when founders Aakash Sastry (CEO) and John Mullan (CTO) met on Reddit over a shared interest.
Itsme funding and plans
In March 2020, they created a social media channel that focuses on the use of avatars, allowing users to meet, interact and grow friendships online with people all over the world.
Itsme now have over four million users, who use the app to enjoy expressive and comfortable conversations that are not dictated by physical appearance.
Itsme users spend 2.5 million minutes video chatting online as their Avatars per week, while approximately five million messages are sent per day between users. Group chat features are set to be launch in the coming weeks.
“People want to be liberated from the limited reality of how their camera sees them and our goal is to offer a digital solution that empowers personality, passions and conversations to take center stage,” Sastry said.
“High-fidelity 3D Avatars empower people to be their most expressive and truest selves, while also allowing them to be as safe or private as they want.”
The Series A funding round follows plans to introduce the opportunity for members to buy, sell or trade items via the Itsme app.