Urturn Raises $13.4 Million
Based in London, Urturn is social startup that is focused on music and entertainment. The company has announced today that they have raised $13.4 million in venture capital funding. This round of funding was led by Balderton Capital. Balderton put in over $10 million themselves. Debiopharm Group also participated in this round. Urturn also recently launched an iOS mobile app. They will be launching an Android app soon.
“While existing social platforms have focused on connecting people and all provide finite ways for interacting online, we’ve focused on how people interact – providing an ever-growing variety of rich and playful ways for our users to express themselves. Born out of the acknowledgement that users want to be more expressive, Urturn is the next natural step for social media,” stated Urturn CEO Stelio Tzonis. “We believe our mobile app will make Urturn more accessible and enable people to share Expressions more spontaneously.”
Urturn formerly used to be known as Webdoc. The company allows users to share multimedia collages with images, videos, text, and audio. Some celebrities that have used Urturn for campaigns include One Direction, 50 Cent, and Alicia Keys.
“We’re not charging for the promotional campaigns just as Twitter and Facebook are not charging for tweets or posts,” added Tzonis. “Today, musicians don’t get promoted or do any monetzation on Urturn. But it has been really encouraging to get such a positive response from the music industry and we’re excited to see how other industries such as fashion will use it to engage with the user community.”
Urturn plans on using the funding to develop their product and continue growing the business.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry