Lapse, a photo-sharing software company based in London, UK, got $30 million in Series A funding. The service is geared toward friends.
Leading the round were Greylock and DST Global Partners, with participation from angel investors Naveen Gavini, Soleio, Nima Khajehnouri, and Praveen Murugesan, as well as current investors GV (Google Ventures), Octopus Ventures, and Speedinvest. Along with the funding, Greylock General Partner and former senior vice president of product and growth at Snap Inc. Jacob Andreou joined the Lapse board of directors.
With the money, the company plans to grow by adding more engineers and technicians to handle demand and implementing product improvements based on customer input.
Ben and Dan Silvertown founded Lapse, an app for sharing photos with friends, in 2021. Users may take and share real, unedited images with friends using the interface, which is reminiscent of disposable cameras. This keeps people in the moment and offers an alternative to the conventional social media game of likes and follows. Over the past year, this idea has found a receptive audience, resulting in a peak of 100 million genuine moments being caught each month.