- Cameo has announced that it has raised $100 million in Series C funding at a valuation of over $1 billion. These are the details.
Cameo has announced that it has raised $100 million in Series C funding at a valuation of over $1 billion. Including this funding round, the company has raised over $165 million.
The funding round was led by e.ventures (a fund managed by Jonathan Turner) and the round also included several strategic investors including Amazon’s Alexa Fund, UTA Ventures, the SoftBank Vision Fund 2, Valor Equity Partners, Counterpoint Global (Morgan Stanley), GV (formerly Google Ventures), and several Cameo talent investors, including skateboarder and entrepreneur, Tony Hawk. Cameo’s existing investors, Lightspeed, Kleiner Perkins, Spark Capital, The Chernin Group, and Origin Ventures also joined the round. With the new funding round, Cameo added Jonathan Turner to its board of directors.
With the funding round, the company is going to invest in four main areas:
1.) Improving the core Cameo experience
2.) Introducing new products
3.) Reaching new customers
4.) Entering new markets
KEY QUOTES:
“The pandemic put extra stress on the already unstable business models supporting talent across sports and entertainment ecosystems. It catalyzed a massive shift in awareness and widespread adoption of direct-to-fan models, which has, in turn, created a new foundation for fan engagement. We exist in an entirely different world today — one in which talent actually want to connect more deeply with their fans, and fans expect unprecedented access to the talent they admire most. This funding will help us create the access and connections that will define the future of the ‘connection economy’ on a global scale.”
— Cameo CEO Steven Galanis
“Cameo is creating a new category and fundamentally changing the relationship between talent and fans. We are at an early stage, but the opportunity is massive. We’re excited to use our international expertise to help Cameo become a global phenomenon.”
— Jonathan Turner, partner e.ventures
