Chatbooks Raises $11.5M Series B Funding; Named Fastest-Growing Startup in Utah
PROVO, Utah — February 10, 2017 — Chatbooks, the subscription-based service that automatically turns your digital photos into photo books, has secured an $11.5 million Series B investment led by Aries Capital Partners. Previous investors Signal Peak Ventures and BYU Cougar Capital also participated in the round. Chatbooks has raised over $20 million to date from investors including Kickstart Seed Fund, Peterson Ventures, and prominent angel investors such as Utah CEOs Aaron Skonnard and Jeremy Andrus.
With proven digital marketing success and a recurring revenue model, Chatbooks plans to use the Series B funding both to expand sales and marketing efforts and create new products. The new funds will also go towards expanding into new international markets.
Chatbooks recently gained recognition for its groundbreaking video ad, "Stop Wasting Hours Making Photo Books," which quickly went viral and has been viewed over 50 million times in three months. By focusing on the unique needs of mobile-first parents, Chatbooks has proven that people still want to hold on to their photos and videos in physical form — they just want the experience to be automated, easy, and affordable.
The company has credited their Utah location as a significant contributor to their success, and this latest funding round is no exception. "There's an incredible venture capital and startup ecosystem in Utah that just keeps getting stronger," says Chatbooks CEO Nate Quigley. "We've raised angel, seed, Series A, and Series B capital right here in state. You don't have to compromise between working with experienced and sophisticated investors and having a partner right down the road."
Andrew Dent, partner at Aries Capital Partners, adds, "We are delighted to partner with Nate and Vanessa and the talented management team at Chatbooks,. Photos are some of our most valuable treasures, but in the digital age many photos are buried on electronic devices and rarely viewed. Chatbooks helps customers to literally hold onto and enjoy these valuable treasures in an easy, affordable, and organized way."
Chatbooks co-founder Vanessa Quigley, shares, "We're on a mission to make creating photo books as easy as taking a picture. My husband and I have seven children, a lot of memories, and even more pictures. But we had no photo albums of our younger kids — we had photos on our phones and social media, but nothing to really hold on to. Like most parents, I didn't have time for another project, so we knew we had to make Chatbooks completely automatic. Now, every time you add 60 photos to a connected source, Chatbooks automatically turns those photos into a printed book."
Chatbooks start at just $8 for a 60-page photo book.