Wrap Media, LLC Announces $12.7 M in Series B Funding

Wrap Media, LLC Announces $12.7 M in Series B Funding
September 3, 2015 The Wrap Team

SAN FRANCISCO, Sept. 3, 2015 /PRNewswire/ — Wrap Media, LLC, a cloud-based software company offering a mobile-first, interactive storytelling and commerce platform, closed a $12.7 million Series B funding round led by Raine Ventures and ProSiebenSat.1 Media with participation from Christopher Crain of Crain Communications, Dream Incubator, FF Angel LLC, Salesforce Ventures and Transmedia Capital, in addition to other investors. To date, the company has raised a total of $18.7 million.

Wrap is the mobile, web-based native app alternative. A single touch takes users into a multi-functional user experience without actually having to download, open or be in an app. Sent as a link, image or embed, Wraps are authored once, fully portable and run anywhere that a browser or web view can exist from any web platform, app, game, device or brand property.

“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 Eric Greenberg, Founder and 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.”

In what used to take months, weeks or days and an enormous expense, businesses can easily and inexpensively create and export their brand and interactive experiences through the web in hours or even minutes, which has, to date, been lacking in the app-centric and website-driven mobile economy.‎

With no programming skills necessary, Wrap’s template-driven authoring tool creates powerful user experiences that can power the mobile interface of software platforms, publishers and e-commerce companies. The functionally rich and visually arresting user interface leverages the full communications and engagement potential of the smartphone. The platform unlocks vast storytelling potential, turning interactions that have been declarations into conversations, which engage consumers, build relationships and create new ways of doing business that yield value and increase loyalty.

In addition to new funding, Wrap has also hired Peter Foster as Chief Revenue Officer. Formerly at Yahoo where he served predominantly as Vice President of Solutions Development for the $3+ billion Yahoo Americas sales organization, Peter will be responsible for leading Wrap’s company revenue, customer success, customer service, customer acquisition and growth, sales channels and sales operations.

“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,” continued 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.”

“The Salesforce1 Fund empowers startups building transformative technologies that revolutionize how companies connect with their customers in today’s mobile world,” said John Somorjai, EVP of corporate development and Salesforce Ventures, Salesforce. “Wrap’s innovative mobile technology extends the power of the Salesforce1 Platform and we are excited to help them accelerate their growth.”

“Wrap delivers both content and context in the short attention span of a mobile message,” added Gordon Rubenstein, Managing Partner of Raine Ventures and a Wrap board director. “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.”

To view a Wrap of this press release, click here.


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