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Venture Capital News: Wrap Media Grabs $12.7M

SAN FRANCISCO, CA, Wrap Media, LLC, a cloud-based software company offering a mobile-first, interactive storytelling and commerce platform, closed a $12.7 million Series B financing round
The round was led by Raine Ventures and ProSiebenSat.1 Media with participation from Christopher Crain of Crain Communications, Dream Incubator, FF Angel LLC, Salesforce Ventures and Transmedia Capital, in addition to other investors. To date, the company has raised a total of $18.7 million.

Wrap is the mobile, web-based native app alternative. A single touch takes users into a multi-functional user experience without actually having to download, open or be in an app. Sent as a link, image or embed, Wraps are authored once, fully portable and run anywhere that a browser or web view can exist from any web platform, app, game, device or brand property.

'People blame poor conversion and monetization on a lot of things, but it is fundamentally an interface problem. We have app indigestion and know that the mobile web is broken because it was not designed for mobile as it is used today,' said Eric Greenberg, Founder and CEO of Wrap. 'Although people are on their mobile devices constantly, companies still don't understand how to transform mobile consumption into deep, actionable conversions and lasting relationships. Through Wrap's patented technology, stories are told and meaningful interactions are achieved in the short attention span way that people use the mobile phone.'

In what used to take months, weeks or days and an enormous expense, businesses can easily and inexpensively create and export their brand and interactive experiences through the web in hours or even minutes, which has, to date, been lacking in the app-centric and website-driven mobile economy.

With no programming skills necessary, Wrap's template-driven authoring tool creates powerful user experiences that can power the mobile interface of software platforms, publishers and e-commerce companies. The functionally rich and visually arresting user interface leverages the full communications and engagement potential of the smartphone. The platform unlocks vast storytelling potential, turning interactions that have been declarations into conversations, which engage consumers, build relationships and create new ways of doing business that yield value and increase loyalty.

In addition to new funding, Wrap has also hired Peter Foster as Chief Revenue Officer. Formerly at Yahoo where he served predominantly as Vice President of Solutions Development for the $3+ billion Yahoo Americas sales organization, Peter will be responsible for leading Wrap's company revenue, customer success, customer service, customer acquisition and growth, sales channels and sales operations.

'With this new round of funding, we'll be able to optimize our product features, grow the team and expand our go-to market strategy,' continued Greenberg. 'From retail to leisure, advertising to publishing and more, we're excited to push mobile storytelling forward to deliver content combined with sophisticated computing functionality in a beautiful user experience that all mobile users deserve.'

'The Salesforce1 Fund empowers startups building transformative technologies that revolutionize how companies connect with their customers in today's mobile world,' said John Somorjai, EVP of corporate development and Salesforce Ventures, Salesforce. 'Wrap's innovative mobile technology extends the power of the Salesforce1 Platform and we are excited to help them accelerate their growth.'

'Wrap delivers both content and context in the short attention span of a mobile message,' added Gordon Rubenstein, Managing Partner of Raine Ventures and a Wrap board director. 'It pushes the boundaries of what's currently possible on the mobile web and delivers an engaging experience unlike anything that's been done before.'

About Wrap
Founded in 2014 by entrepreneur Eric Greenberg, Wrap is a mobile-first storytelling and commerce platform that delivers app-like user experiences in bite-sized pieces through the mobile web. The 'Narrative Web' is the native app alternative, enabling unprecedented engagement, activation and conversion for brands, publishers, and digital businesses. Through its unique authoring tools and SaaS platform, Wrap creates opportunities for companies to create new business models and deeper relationships that cultivate loyalty and lead to increased revenue and profitability. For more information, visit

About Raine Ventures
The Raine Group is a global merchant bank focused exclusively on technology, media, and telecommunications. Raine has in excess of $1.5 billion in assets under management. The firm has offices in New York, San Francisco, Los Angeles, London, and Shanghai. With a global reach, Raine focuses on investment and advisory opportunities where its deep industry experience and unique network of strategic relationships can create value for portfolio companies and clients. Launched in 2013 as part of The Raine Group, Raine Ventures is a global venture capital platform focused on creating, building, and investing in the next generation of digital media properties. For more information, visit

About ProSiebenSat.1 Media
ProSiebenSat.1 Media is one of the largest independent media corporations in Europe. Free TV financed by advertising is our core business. With the stations SAT.1, ProSieben, kabel eins, sixx, SAT.1 Gold, and ProSieben MAXX, we are the number one in the German TV advertising market with about 30 percent market share. We have tapped into an attractive new business area with the distribution of our television channels in HD quality. We are also Germany's leading video marketer on the internet. We operate the video-on-demand portal maxdome, which contains with over 60,000 titles the most extensive offer of content in Germany, and provide our customers with the multi-channel network Studio71 or the streaming app 7TV the best digital entertainment. In recent years, we have built a strong e-commerce portfolio, which is now one of our key growth drivers. In addition, our Group is represented by an international program production and distribution network in seven countries. This means ProSiebenSat.1 Media has a broad revenue and earnings basis.

About Dream Incubator Inc.
Dream Incubator Inc. (TYO: 4310), 'the business producing company,' is a strategic consulting and business development firm primarily for corporate clients and governmental institutions. Dream Incubator provides both capital and professional services to next-generation companies to support their growth and expansion, while also operating their own businesses as well.

About FF Angel LLC
FF Angel LLC is a small fund for early stage investments that is operated by the partners of Founders Fund,

About Salesforce Ventures
Salesforce Ventures - Salesforce's corporate investment group - invests in the next generation of enterprise technology to help companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world's largest cloud ecosystem and the guidance of Salesforce's innovators and executives. With Salesforce Ventures, portfolio companies can also leverage the expertise of the Salesforce Foundation to incorporate its 1-1-1 model of integrated philanthropy to make giving back part of their business model. Salesforce has invested in more than 150 enterprise cloud startups since 2009. For more information, please visit

About Transmedia Capital
San Francisco based venture capital firm Transmedia Capital (TMC) is led by managing partners Chris Redlitz and Peter Boboff. TMC is one of the best performing micro funds in Silicon Valley, focusing on platforms addressing specific sectors including digital media, analytics, mobile commerce, and marketing automation. The firm concentrates on Seed and Series A investments.
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