User-generated photography app and marketplace agency Foap has raised an additional $2.3 million in funding.
Launched in 2012 Foap has steadily amassed an active, engaged community of approximately 500,000 total users and averages 30,000 photo uploads every week.
Lead investors in this new funding include CEO and Co-Founder of VaynerMedia, Gary Vaynerchuk; Upshot Chairman and Protagonist LLC Partner, Jordan Rednor; CNN Worldwide President, Jeff Zucker; and CEO of Delivery Hero, Niklas Ostberg, among others. Vaynerchuk, Rednor, Zucker and Ostberg join the company’s advisory board, effective immediately. This latest investment brings Foap’s total funding to roughly $5 million, as the Swedish startup is in the process of raising its Series A round.
“I know the value of Foap’s offering firsthand, having been one of the company’s early adopters,” said Vaynerchuk. “By creating a marketplace of user-generated, authentic photography, Foap offers brands real images at a fraction of the cost of traditional stock photography but with an exponentially higher rate of engagement. Foap’s CEO David Los (photo above) is answering a crucial market need with this offering and I’m excited to be a part of the company’s future.”