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Classified in: Science and technology, Business
Subjects: VEN, CXP

Lumanu Secures $12 Million in Series A Funding to Fuel the Booming Creator Economy


OAKLAND, Calif., July 28, 2021 /PRNewswire/ -- Today, Lumanu announces it has secured a $12 million Series A funding round to support its continued growth as the company furthers its mission to empower creators in the fast-growing $50+ billion creator economy. The round is led by Origin Ventures with Alumni Venture Group, Gaingles and 500 Startups also participating. The company also announces Origin Ventures Partner Scott Stern will join Lumanu's board of directors.

In the past nine months alone, Lumanu has seen significant growth in its network, as additional creators recognize the value of their content and embrace entrepreneurship. As creators elevate their businesses, they emphasize collaboration with clients, employees and vendors. Lumanu offers the flexibility required for creators to scale their businesses through stress-free solutions that set them up for success. By empowering creators, Lumanu hopes to drive a creative revolution that not only transforms the way the industry operates, but puts creators in the driver's seat.

"As a creator, I love that I can share my passions with the world and have a direct, genuine connection with the audience. No other format allows for this," said Christy Carlson Romano, social media star, singer and actress best known for her roles in Even Stevens and voicing the title character in Kim Possible. "However, my passion is also my business ? and the industry is not always set up to support creators. Lumanu has been invaluable by eliminating so many of the pain points on the back end that I ? and every creator ? face when operating our businesses. This support benefits all creators and helps build a stronger creator community in which everyone can participate."

"We're incredibly excited to continue delivering creators and entrepreneurs the tools and resources they need to grow their businesses. As an entrepreneur, I know first-hand how important the support of a trusted network can be to your success," said Lumanu co-founder and CEO Tony Tran. "Origin Ventures has a wealth of knowledge in the creator space and will be a valuable partner as we provide creators with the tools to succeed in their entrepreneurial journeys."

Lumanu's Series A comes on the heels of the company's introduction of EarlyPay: the industry's first solution that lets creators get paid instantly, 24/7. EarlyPay enables creators to easily send invoices and instantly receive payments for brand collaborations instead of waiting the customary 30-60 days ? or worse, not getting paid at all, often due to lack of familiarity or noncompliance with an invoicing or PO process. The platform also enables users to share and protect their IP and brand, a process that can be complex and difficult to unwind if handled incorrectly.

"Recent growth of the 'Creator Economy' has been astounding. These self-made solopreneurs are the modern-day hustlers that brands use to reach two entire generations of digital natives," said Scott Stern, Partner at Origin Ventures. "By creating an operating system for creators, Lumanu empowers them to collaborate with clients, brand partners and one another quickly, intuitively and seamlessly across the entire lifecycle of a project, from the very beginning through final payment."

About Lumanu
Lumanu simplifies how creators do business. Its tools for invoicing, payments, and collaborations streamline inconvenient tasks, freeing creators to do more of what they love. By helping them manage operations, Lumanu empowers the entire spectrum of creators to live life on their own terms. Founded in 2017, Lumanu has raised $16M in total funding and is headquartered in Oakland, CA.

About Origin Ventures
Origin Ventures is an early-stage venture capital firm founded in 1999 that invests in high-growth technology companies creating software and marketplaces for the "Digital Native Economy." Origin Ventures was an early investor in Grubhub, Cameo, BacklotCars, Tock, Tovala, 15Five, and other market leaders. The investment team members are all former operators and engineers with experience at Google, Twitter, SAP and Metromile, among others. Origin's offices in Chicago and Salt Lake City provide access to opportunities in the U.S. and Canada.

 

SOURCE Lumanu


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News published on 28 july 2021 at 09:00 and distributed by: