Albumatic Raises $4.2 Million
Albumatic is a Los Angeles based startup that has developed a photo sharing application. Albumatic has raised $4.2 million in funding. This round of funding was provided by RRE Ventures, Thrive Capital, SV Angel, CrunchFund, Highline Venture Partners, Betaworks, and Box Group. Albumatic was founded by Adam Ludwin and Devon Gundry.
Albumatic started out this past February as a way for friends at the same event to share photos with each other. The co-founders took their app to SXSW this past March and offered people free food in exchange for downloading the app.
What they discovered was that there was a lot of steps involved in downloading the app and setting up an album, according to GigaOM. The company went from a location-based photo sharing app that focused on being in the moment to an app where photo albums can be shared with friends and family for collaboration purposes.