We’re excited to announce the close of a new round of funding for Chute! The round was lead by Freestyle Capital, with participation from Battery Ventures, USVP and strategic investors including Salesforce.com, Joe Fernandez, Binh Tran, and Joshua Reeves among others.
Find the official press release below:
San Francisco, CA; July 24, 2012 â€“ Chute, the Y Combinator backed company that
helps apps and sites capture, manage and display media files, today announced it has
secured a new round of early stage venture funding. Freestyle Capital (who led), Battery
Ventures, USVP and a handful of strategic investors including Salesforce.com, Joe
Fernandez and Binh Tran (the CEO and CTO of Klout), and Joshua Reeves (CEO of
Zen Payroll) contributed to the round.
Chute makes it easy for content producers and app developers to add photo functionality to their apps or sites by simply embedding a few lines of code. Chuteâ€™s technology gives developers and online publishers a cloud-based backend for image uploading, processing, moderation, third-party API integrations and user authentication.
â€śThe best brands and publishers in the industry are bringing user generated media alive
and displaying it on their site, on their Facebook pages, in their mobile apps, or at live
events; anywhere their content lives,â€ť said Ranvir Gujral, Co-Founder of Chute. â€śChute
lets them do this. With Chute, publishers, brands, and application developers no longer
have to re-invent the wheel every time they want to build functionality to capture user
generated media like photos. Weâ€™ve got a lot of work ahead of us, believe it will be an
exciting ride and feel great about the investors we have alongside us.â€ť
While still currently in beta, Chute has seen incredible customer growth and engagement since its inception in 2011, including a number of new customer use cases at publishers like NBCNews.com and Lucky Magazine, big brands like Taylormade and Havaianas, and live entertainment companies like House of Blues Entertainment and L.A. Live. Given Chuteâ€™s cloud based platform is of particular interest to large publishers and media companies, the company was accepted into Turner Broadcasting’s new accelerator, Media Camp, a selective program for digital media startups.
â€śChute has taken the time to understand and address the TODAY.com strategy for
social sharing,â€ť said Jen Brown, TODAY.com General Manager. â€śThe Chute user
experience integrates beautifully with our editorial product, making for a seamless user
experience and maximizing engagement.â€ť
“As a founder of two successful digital media companies, I got the explosive potential
of Chute in the first meeting,â€ť said Josh Felser, Freestyle Capital Co-Founder. â€śThere is no better way for publishers and brands to add images and related virality to their online experiences and the Chute team knows this space intimately.”
Mikey Kilun, Senior Manager, Social Media for House of Blues Entertainment
adds, â€śChute provided a dynamic branded UGC experience that we leveraged across
a few of our key social media and web assets. These hash-tag driven content feeds
tend to be highly viral and helped to drive brand awareness and fan engagement for our
venues and events.â€ť
The company will apply the new funds to hiring and investing in sales and marketing.