Chatbooks Raises $11.5M Series B Funding
Automated, Mobile-First Photo Book Company is Named As Fastest-Growing Startup in Utah
PROVO, Utah — February 10, 2017 — Chatbooks, the subscription-based service that automatically turns your digital photos into photo books, has secured an $11.5 million Series B investment led by Aries Capital Partners. Previous investors Signal Peak Ventures and BYU Cougar Capital also participated in the round. Chatbooks has raised over $20 million to date from investors including Kickstart Seed Fund, Peterson Ventures, and prominent angel investors such as Utah CEOs Aaron Skonnard and Jeremy Andrus.
With proven digital marketing success and a recurring revenue model, Chatbooks plans to use the Series B funding both to expand sales and marketing efforts and create new products. The new funds will also go towards expanding into new international markets.
Chatbooks recently gained recognition for its groundbreaking video ad, “Stop Wasting Hours Making Photo Books,” which quickly went viral and has been viewed over 50 million times in three months. By focusing on the unique needs of mobile-first parents, Chatbooks has proven that people still want to hold on to their photos and videos in physical form — they just want the experience to be automated, easy, and affordable.
The company has credited their Utah location as a significant contributor to their success, and this latest funding round is no exception. “There’s an incredible venture capital and startup ecosystem in Utah that just keeps getting stronger,” says Chatbooks CEO Nate Quigley. “We’ve raised angel, seed, Series A, and Series B capital right here in state. You don’t have to compromise between working with experienced and sophisticated investors and having a partner right down the road.”
Andrew Dent, partner at Aries Capital Partners, adds, “We are delighted to partner with Nate and Vanessa and the talented management team at Chatbooks,. Photos are some of our most valuable treasures, but in the digital age many photos are buried on electronic devices and rarely viewed. Chatbooks helps customers to literally hold onto and enjoy these valuable treasures in an easy, affordable, and organized way.”
Chatbooks co-founder Vanessa Quigley, shares, “We’re on a mission to make creating photo books as easy as taking a picture. My husband and I have seven children, a lot of memories, and even more pictures. But we had no photo albums of our younger kids — we had photos on our phones and social media, but nothing to really hold on to. Like most parents, I didn’t have time for another project, so we knew we had to make Chatbooks completely automatic. Now, every time you add 60 photos to a connected source, Chatbooks automatically turns those photos into a printed book.”
Chatbooks start at just $8 for a 60-page photo book.
About Aries Capital Partners:
Aries Capital Partners is a private equity firm based in Salt Lake City, Utah. The firm makes equity investments in growing companies across a variety of industries. Our investment team draws upon excellent operating and investment experience as we seek to partner with talented leaders and entrepreneurs to build successful companies. All of the capital we invest comes from within our firm, allowing us flexibility to align our interests with our partners. For more information, please visit www.ariescapitalpartners.com
About Signal Peak Ventures:
Signal Peak Ventures is a venture capital and growth equity firm with more than $500 million in assets under management. Based in Salt Lake City, Utah, the firm invests in innovative information technology companies and looks for entrepreneurial teams with the potential to transform markets and create lasting value. Specific areas of focus include Internet, SaaS, enterprise software, security, and mobile computing. For more information, please visit www.spv.com.
About Chatbooks:
Chatbooks is a subscription-based service that automatically turns your digital photos into photo books. Headquartered in Provo, Utah, Chatbooks is backed by Aries Capital Partners, Signal Peak Ventures, Kickstart Seed Fund, Peterson Ventures, and BYU Cougar Capital, and in 2016 was named the top startup in Utah by the Utah Venture Entrepreneur Forum. For more information, visit Chatbooks at chatbooks.com and connect on Instagram at @Chatbooks.
Source: Photo Books Producer Chatbooks Raises $11.5M Series B Funding
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