Whether it will be able to withstand the intense rivalry of the likes of Instagram, Viddy and SocialCam – plus a plethora of other media sharing apps – remains to be seen, but photo and video sharing platform startup Mobli has picked up $22 million in fresh funding to give it a shot.
Mobli, which hit 2 million users in April this year, had earlier secured $4 million in financing. Among its investors and advisors, we find celebrities like Leonardo DiCaprio, Tobey Maguire, Serena Williams and Lance Armstrong.
Today, the Israeli startup is announcing that it has landed $20 million from Kenges Rakishev, a well-known business leader from Kazakhstan. Prior backers also chipped in with a further $2 million.
Mobli basically lets users follow and engage with other individuals, as well as subject-based channels they find interesting, and posts different kinds of media to a wide variety of topical channels. Its iPhone app looks like this:
The company says it will use the money it has raised, or at least the part of the $28 million it still has left in the bank, to enhance development of its platform and grow its user base. Gil Eyal, SVP at Mobli, clarifies how the fresh capital will be spent:
“We’re going to be spending the money in three ways:
1) R&D to enhance our current app and implement features focused on strengthening our value proposition.
2) content creation and curation.
3) marketing and partnerships.”
Rakishev comments on the funding round thusly:
“Mobli has tremendous potential because it enables people to do something very powerful – to see the world through other people’s eyes – in a simple, easy to use, and highly engaging format. Mobli leverages social media to meet a very real human need to visually share experiences, thoughts and ideas with other people in real-time.”
Rakishev will also join the company’s board of directors.
(Image Credit: ALI AL-SAADI for AFP / Getty Images)