PRESS RELEASE: TweetPhoto Receives $2.6 Million Series A Financing
Investment to Accelerate and Expand Best-In-Class Developer Platform
San Diego, CA (PRWEB) April 13, 2010 -- TweetPhoto, the real-time media sharing platform for the social web, today announced it has secured $2.6 million in a Series A financing led by Canaan Partners, with additional investment from Anthem Venture Partners and angel investors. The company plans to use the capital to accelerate the development of its core offering, a platform of open APIs and mobile SDKs for real-time media sharing across the social web. The round will also allow the company to expand its developer relations program and to introduce new products that further strengthen its position as the preferred way for leading application developers to incorporate real-time media sharing into their applications.
“We are extremely pleased that we have been able to assemble a great syndicate of investors to help us in the next phase of our growth,” said Sean Callahan, CEO of TweetPhoto. “This round of funding will allow us to further attract top engineering and sales talent while we continue to focus on delivering the best platform available to instantly share media anywhere from any device. In the next few months, we will significantly expand our offerings and make it easier for developers to create compelling applications that leverage the social web.”
TweetPhoto allows users to share, discover, and interact with media seamlessly across multiple social networks through its developer platform. TweetPhoto users can link their accounts and publish media instantly to Twitter, Facebook, Foursquare, LinkedIn, and other popular social networks, and the TweetPhoto APIs support features such as photo commenting, favoriting and voting, meta-data filters, geo-tagging, location-based search, friend feeds and customizable widgets. These features are exposed through a rich suite of easy-to-implement APIs and software libraries that let application developers easily incorporate these best-in-class media sharing capabilities into their mobile or web applications.
“Consumer demand for intuitive, effective and easy to use media sharing technology continues to increase,” said Deepak Kamra, General Partner at Canaan Partners. “The number of people connecting through social networking sites and the social web is still growing, and sharing rich, personalized content is a key part of the experience. We’re excited to leverage our investment history and experience in the social media industry to help TweetPhoto expand its offerings and achieve a new level of growth.”
“Sean and his team have built a solution that provides a simple and elegant way for developers to create more engaging, connected applications,” said Brian Mesic, General Partner at Anthem Venture Partners. “The company has great traction and the platform has proven to be scalable and robust through a period of truly impressive growth.”
One year after launching the service, TweetPhoto has attracted a dedicated team of developer-friendly engineers and key sales executives serving nearly 15 million monthly unique visitors from various social networks, 40 million API requests a day and 250 million images each month.
About Canaan Partners
Canaan Partners invests in visionary entrepreneurs and provides them the networks, insights and operational guidance required to build high-performance technology and healthcare companies. Founded in 1987, the firm has raised eight funds and completed more than 77 acquisitions and 52 IPOs. With $3 billion under management and a worldwide footprint, the firm’s technology team is committed to catalyzing the growth of innovative companies in the digital media, communications & mobility, enterprise and clean tech sectors. Among its successes are DoubleClick, the leading online advertising solution; Match.com, the most popular online dating site in the world; CommerceOne, the company that pioneered B2B ecommerce; SuccessFactors, the global leader in on-demand performance and talent management solutions; WebLoyalty, a leading provider of online marketing and rewards services; and VOIP equipment supplier Acme Packet, which was one of the top ten performing tech IPOs of 2006. Other Canaan technology investments include Active Networks, Associated Content, BharatMatrimony, Blurb, iYogi, Lending Club, N-trig, ON24, Prime Sense, Tremor Media and Zoosk. Canaan has offices in California, Connecticut, India and Israel. For more information visit www.canaan.com.
Anthem Venture Partners is a Santa Monica based venture fund that invests in early-stage technology companies. Anthem is usually the first institutional investor in new ventures, and the firm’s partners are dedicated to working hand-in-hand with entrepreneurs to make good things happen. The firm is distinguished by its tenacity, by the accessibility of its partners, and by a work ethic that matches that of its best entrepreneurs. Anthem has a long track record of being the first to back great companies like Android, Audyssey Labs, Blurb, BuzzMedia, Demand Media, NevenVision, Planet ATE, Siperian, TrueCar, VuVox, Wavestream, Zag, and others.
TweetPhoto is a real-time media sharing platform for the social web. TweetPhoto allows users to instantly share their media, at the same time, to popular social networks through mobile devices and on the web. TweetPhoto specializes in providing an innovative open API, and mobile SDKs, to the developer community of Twitter, Facebook, MySpace, LinkedIn, Foursquare and more to come. The platform empowers third-party application developers to quickly add media sharing capabilities and other unique features to their applications without incurring the resources to build, innovate and manage a media sharing infrastructure. Proving the power and scalability of the platform the company’s website, http://tweetphoto.com, is architected using the same open API offered to third-party developers.
(First posted on Tuesday, April 13, 2010 at 14:41 EDT)