News provided by
SLUSHY
Jun 25, 2024, 09:00 ET
The Chainsmokers' Mantis VC, Executives from Tinder and Shutterstock Double Down as Social Commerce App Debuts New Features and Framework to Protect and Empower Creators and Consumers
MIAMI, June 25, 2024 /PRNewswire/ --SLUSHY, a creator monetization platform purpose-built to help creators grow their community and consumers to form authentic connections, has closed $10.2 million in seed funding. The company is the first venture-backed adult content platform in history, garnering investment thanks to its differentiated approach to adult content that combines an innovative tech stack with robust moderation, security, and compliance.
The round comprises new and return investments from pre-eminent VCs specialized in high-growth technology startups. Mantis VC (GRAMMY Award-winning duo The Chainsmokers), Electric Feel Ventures, Jon Oringer (Former CEO of Shutterstock), and Sean Rad (Co-Founder and former CEO of Tinder, Inc.) returned to participate. The new investment comes from high-profile angels, including Edison Chen (Founder and CEO of Clapper) and Brooklyn Johnny (music entrepreneur and six-time GRAMMY winner, founder of District 18 Entertainment, and manager to Cardi B).
"Creators need discoverability and promotion. Consumers need intimacy and connection," says CEO David Gross. "We merge best-in-class commerce and social tools for creators to connect with and monetize their audiences directly while helping users discover their new favorite content. These funds will advance the growth and development of SLUSHY on the heels of year-over-year platform success."
Founded in 2020 by David Gross and Fred Spivock, this raise validates SLUSHY's unique promise in today's digital landscape to empower and safeguard creators while crafting a personalized user experience through sophisticated AI discovery tools for direct creator-consumer interaction. The fresh capital will support developing new features, onboarding additional creators, and expanding into new target markets, including South America.
"From predatory business models for creators to a lack of guardrails and identify verification for users, adult content platforms have proven too risky to investors for the last decade," said Austin Rosen, General Partner at Electric Feel Ventures. "SLUSHY's status as the first venture-backed content platform is a testament to the company's sustainable payout structure for creators and emphasis on compliance and regulation. We are thrilled to recommit to the platform's continued growth."
SLUSHY had a massive Q1 2024, reaching 1 million users and growing its creator base by 40% to 10,000. The rapid, continued growth can be attributed to the platform's ability to foster quality content from established and undiscovered talent and support creators with tools and insights to increase audience and revenue. While most adult content platforms cater to creators with a significant social media following, SLUSHY's integrated suite of commerce and discovery tools allows creators without an existing online presence to gain followers and create a sustainable income.
SLUSHY has also integrated with AI-focused third-party apps STXT and Party Hat AI to support creators in constantly producing fresh content and connecting with their community. Creators can now develop hyperrealistic avatars and communicate through AI-based chatbots, driving personalized and engaging interactions while they focus on producing high-quality content. Through this partnership, macro creators, including Sierra Skye and adult film star Sophie Dee, have reached and engaged over 1M users with targeted interest/machine learning-based outreach.
For consumers, SLUSHY recently introduced Perfect Match, a new feature inspired by the swiping interface popularized by dating apps. Swipe right on desired creators to inform the content and creators that consumers will receive in their personalized SLUSHY content feed. To date, SLUSHY has seen more than 250,000 videos posted in-app, spanning adult and non-adult content.
"SLUSHY merges innovative technologies with exclusive content," says Alex Pall, General Partner at Mantis VC. "The platform allows creators to get discovered without having a significant social following and iterates upon the proven success and familiar interface of today's biggest platforms with short-form, swipe-through content powered by machine learning. There is no exclusive fan engagement content platform as technically sophisticated as SLUSHY in today's market."
To learn more about SLUSHY, its creators, and in-platform content, visit slushy.com.
About SLUSHY
SLUSHY is a social commerce platform built for creators who want unrivaled creative freedom and robust engagement tools. Its creator-first, tech-driven interface is designed with key discoverability features and audience insights to help consumers find their new favorite creators. SLUSHY incorporates a powerful legal framework - with advanced compliance tools, including simplified consent, ID verification, and content moderation. Built and backed by prominent C-suite leaders behind companies such as Tinder and Shutterstock, SLUSHY is the first-ever venture-backed adult content platform. To learn more about SLUSHY, visit slushy.com.
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