Dynamite Labs has raised a Seed funding of $1.6 million led by Observatory Capital with contributions from other investors which include Gordon Bell (former head of R&D at Digital Equipment Corp and Researcher Emeritus, Microsoft Research), Paul Gauthier (co-founder Inktomi & former CTO Groupon), Scott Russell (co-founder Softbank Technology Ventures), and Timothy Tuttle (founder & CEO at Expect Labs, founder Truveo).
Dynamite Labs has been working on a video app which allows users to shoot, edit and share their videos with public, friends or anonymous people. There are plenty of face masks as well as audio filters which allows users to create unique stories. The maximum length of the video can go up to 42 seconds.
The raised investment will allow Dynamite, which has been in private beta, to launch its public beta and introduce new features focused on giving its community new tools to tell personal stories in form of a video which can be shared privately with their friends or made public.
“Our mission is for Dynamite to be the place where you can share your true self, instead of the overly-crafted, perfect, happy version you share on social media today.” said Joshua Dern, CEO and co-founder at Dynamite Labs, Inc. “Whether you have something funny to share, or a meaningful story about your experience having been bullied, a victim of racism, or otherwise disenfranchised, Dynamite was created to support a new generation of voices and storytellers.”
Jonathan Perl, Managing Member of Observatory Capital said, “Millennials are most interested in watching and connecting via mobile video.” Further adding he said,“The team behind Dynamite has successfully created video platforms used by over 100 million people, they have the experience and integrity to develop this platform into a cultural juggernaut.”
Dynamite was also designed to support pro-social movements and is working directly with community-based organizations, activating people to share their unique experiences dealing with complex issues. As part of its beta launch, Dynamite has partnered with the JED Foundation, nation’s active emotional wellness organization advocating for college students, to engage people to share Dynamite videos that are sparking change and creating a dialogue around the issues that are most important to young adults and teenagers.Category Investments