Wrap Media Announces $3.5M Series A Funding
SAN FRANCISCO, CA, Wrap Media has closed a $3.5 million Series A financing led by FF Angel LLC and Raine Ventures.
Wrap Media, LLC, inventor of the 'Narrative Web,' has closed a $3.5 million Series A financing led by FF Angel LLC and Raine Ventures. The company has raised a total of $6.0 million to date with Founder Eric Greenberg providing the initial $2.5 million of capital to create the patented technologies underlying the platform.
Wrap is a mobile-first marketing and commerce platform that enables a beautiful world of storytelling through highly engaging bite-size moments, which form the building blocks of the narrative web. Wrap combines content with mobile app and website functionality to create elegant, card-based narratives that are delivered in the mobile browser as sharable and savable messages. In doing so, Wrap is the first company to provide an affordable mobile-first platform that drives consumer engagement and conversion.
'Wrap creates opportunities for businesses to innovate and improve their products and services by leveraging technology in ways not previously possible,' said Eric Greenberg, Founder and CEO of Wrap. 'We enable brands, publishers, retailers and digital platforms to create better relationships with their customers and cultivate the loyalty that ultimately leads to increased revenue and profitability.'
Wrap was created to address product development and user experience issues that are affecting the growing mobile commerce market. These issues include the increasing complexity and cost of mobile app and website development, the limited windows of opportunity to capture and hold a customer's attention, and the lack of connectivity across apps.
'Where businesses used to have to build places - like websites - or monolithic systems - like apps - they can now provide consumers with an app-like message that delivers the mobile-first user experiences and functionality combinations they really want and need,' said Chief Creative Officer and design legend Mark Rolston. 'You do not need to be an accomplished designer, know iOS or Android, or understand the weeds of app and website development to succeed in your business.'
'Eric Greenberg has a long history as a successful entrepreneur in building companies from an idea to an IPO,' notes Gordon Rubenstein, Managing Partner of Raine Ventures and a Wrap board director. 'We are thrilled to partner with him and the Wrap team to deliver upon the full potential of the narrative web.'
Eric Greenberg has pledged 10% of the founding equity of Wrap to charity.
Wrap is a storytelling mobile user interface and interaction platform, where experience design commoditizes technology. Through its authoring tools and SaaS platform, Wrap creates opportunities for business to innovate and improve products and services leveraging technology in ways not before possible, because the enabling interface and platform did not exist.
About FF Angel LLC
FF Angel LLC is a small fund for early stage investments that is operated by the partners of Founders Fund, www.foundersfund.com.
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 www.raine.com.
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