Cinemagram, which enables mobile users to create and share a sophisticated version of flipbook-style animated photos, has raised $8.5 million led by Menlo Ventures, with participation from Atlas Venture, Khosla Ventures and Real Ventures. Shervin Pishevar from Menlo Ventures is joining Cinemagram’s board.
The Montreal-based company said the investment would go toward its bandwidth costs and to add staff. It also is relocating to San Francisco.
According to All Things D, which first reported the funding, co-founder Temo Chalasani said new signups had slowed down to a steady “tens of thousands” every day. In a further indication of Cinemagram’s popularity, the average user watches at least 50 of the two-second long animated photos – which it calls cines – a day.
Cinemagram – http://cinemagr.am
Financial Post – Montreal’s Cinemagram raises $8.5M for animated photo-sharing app
All Things D – Cinemagram Raises $8.5M Led by Menlo Ventures