Wrap Media, a cloud-based software startup, has announced it raising $12.7 million in Series B round of funding led by Raine Ventures and Germany’s ProSiebenSat.1 Media along with other investors that include Christopher Crain of Crain Communiations, Dream Incubator, FF Angel LLC, Salesforce Ventures and Transmedia Capital. Totaling the previous funding rounds, the company has raised $18.7 million.
Founded in 2014 by Eric Greenberg, Wrap is a German mass media, storytelling and commerce platform that delivers app-like user experience in bite-sized pieces through the mobile web. The startup’s service allows nontechnical people to easily create mobile content, including text, graphics and video in an array of cards that is converted mobile screen-friendly to tell a story. The ‘wraps’ can be put into social media, email and other formats.
“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 Greenberg, 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.”
The fully capable, rich visuals attract the users and its interface controls all the communications and engagement potential of the smartphone. The platform gives way to the extensive storytelling potential, turning interactions that have been declarations into conversations, which bring in consumers, build relationships and create new ways of doing business that yield value and increase loyalty.
“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,” added 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.”
Further to the funding, Wrap has recruited Peter Foster as Chief Revenue Officer, who previously worked at Yahoo as Vice President of Solutions Development. He would take care of the company’s revenue, customer success, customer service, customer acquisition and growth, sales channels and sales operations.
Gordon Rubenstein, managing partner of Raine Ventures and one of the board of directors of Wrap said, “Wrap delivers both content and context in the short attention span of a mobile message,”. “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.”