SAN FRANCISCO, July 21, 2022 /PRNewswire/ — 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 Inc. 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.
The Sacramento, CA based company raised $1.2 million in pre-seed funding. The aim is to utilize the money 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.
Will Brown, CEO and co-founder had this to say, “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.”
Learn more about InterApp by visiting their website at www.interappit.com
About InterApp, Inc. Founded in 2017 by CEO William Brown, InterApp is focused on developing an AR ecosystem for creators and consumers to create, engage and interact with the static world around them with products that include software and hardware. The InterApp app is available on Google Play and in the Apple App Store.
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SOURCE InterApp, Inc.