With $5 Million in Funding, Olapic Targets Fashion Retail Market

Olapic has come a long way since it raised $1 million in seed funding a year ago. The company's flagship product, a platform that allows companies to collect ("crowdsource") images and videos from social networks to display on their websites, has been adopted by major media brands and, increasingly, by fashion retailers. The company announced Tuesday that it has raised $5 million in a Series A round led by Fung Capital and Longworth Venture Partners to help further its expansion into the retail space.

In a phone interview last week, co-founder and CEO Pau Sabria said that when Olapic started out, it sought to provide media organizations (including this one) with tools to collect reader images and videos, which they could use to further their storytelling. Working with media companies "provided a lot of exposure," he said, and retailers reached out to see if Olapic could build something for them Read more...