InterApp startup raises $1.2m to bring mass adoption of AR as a necessary consumer utility tool
Sacramento, CA based startup InterApp announced it has raised $1.2 million in pre-seed funding, to double down on early marketing efforts and acquire 10% of the Total Addressable Market (TAM) within 12 months. The all equity round was led by WP Capital Group, a private equity venture fund focused on emerging technologies for consumer engagement.
The venture capital landscape is rapidly changing, as VC firms become more bearish about investing only in a good idea and a pitch deck; startups now need to demonstrate proof of concept, minimal viability, traction, early product adoption and a growing user base to even consider filling out a VC intake web form.
InterApp has been satisfying these conditions for a while, with its self serve augmented reality platform, popular amongst artists, illustrators, digital artists, art directors and creatives alike for the past 3 years. The company has been positioning itself for rapid growth through strategic partnerships with major brands including Rap Snacks, SXSW and AfroTech, as well as being the leading advocate/authority on AR brand adoption for consumer engagement for over 4 years.
Will Brown, CEO and Co-founder, InterApp: "The InterApp team has been anticipating these funds. We are very eager to accelerate our growth, we strongly believe we have a product that will add value for brands and consumers will greatly enjoy using."
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