Prynt Announces Major Retail Partnerships and Secures $7M in Series A Funding
First-ever photography company to incorporate augmented reality technology
SAN FRANCISCO – November 15, 2016 – Prynt, an SF based company connecting physical and digital photos with augmented reality (AR), starting with the first-ever photo-printing phone case, announces strategic business partnerships with major retail partners including Amazon, Best Buy, Target and Urban Outfitters.
Prynt closed a $7 million Series A financing led by GGV Capital, a leading U.S./China venture capital firm, that will focus efforts on building the company and expanding the boundaries of augmented reality photography. Prynt has received a total of $9.5 million in funding.
Prynt lets users save a video inside each photo, allowing them to relive any moment through the app with augmented reality (AR) technology. Simply attach the Prynt Case to any smartphone, take a photo followed by short video, and get a printed photo in 20 seconds. After printing the photo, users can share the Harry Potter-like effect with the app.
"We founded Prynt with the goal of reimagining how people share digital content in the physical world. Prynt lets you relive moments and share them in a way you couldn't before,” said Clément Perrot, CEO and co-founder of Prynt.
Perrot adds, “Now, through our partnerships with a game-changing group of investors and a growth strategy that includes some of the world’s leading retail brands, our mission is to accelerate the expansion of Prynt, create a new space for augmented reality photos, and to further extend people’s personal connections through photography. “
Top global firm, GGV Capital led the Series A round of funding, with support from additional investors such as Greycroft Partners, 500 startups, WI Harper, and David Stern, as well as existing investors Binary Capital and Root Ventures who have shown their confidence in Prynt’s product expertise, technological skills and business acumen. This pivotal round will allow Prynt to:
- Broaden the availability of its popular photo-printing case in the U.S and Europe through partnerships with major online and offline retailers such as Amazon, Best Buy, Target, Urban Outfitters and others.
- Accelerate the adoption of augmented reality photos globally with proprietary technology.
- Expand product and feature roadmap to meet high consumer demand.
- Increase hiring of U.S. team members in the areas of product development and marketing.
“We are excited to partner with entrepreneurs who know how to create an engaging consumer product experience and are enthusiastic about the potential of its mobile app, and the kind of social interactions it enables,” said Hans Tung, Managing Partner, GGV Capital. “In addition, the team’s focus is evident as it continues to add name brand retailers to its roster.”
Prynt has quickly captured retailers’ attention by creating a must-have product that reaches a coveted demographic. Backed by strong sales and passionate customers, broader retail channels will continue to be part of the growth strategy. It currently ships worldwide on Amazon and is available both in-store and online at Best Buy, Target, and Urban Outfitters in the U.S. In the U.K., the product can also be purchased in-store and online at Harrods, John Lewis and Selfridges.
“Urban Outfitters’ partnership with PRYNT has been an ideal pairing. We have overlapping customer segments and Prynt has developed a product that we’re thrilled to offer our customer. In the ever developing technological age, we’re challenged as retailers, to sell “invisible technology.” This has given us the opportunity to create inventive marketing that showcases the exciting “hidden” features that the Prynt Smartphone Printer has to offer,” says K.C. Gentzel, Divisional Merchandise Manager, Tech + Gift, Urban Outfitters.
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Prynt reimagines how we share digital content in the physical world with first-ever photo-printing phone case. Prynt Photos have short video clips embedded inside so you can share your memories in a way that's tangible and magical.
The Prynt Case, which raised $1.5 million on crowdfunding website Kickstarter, is available now for iPhone and Android. The case is fashionable, fun and perfect for parties or music festivals. Each printed photo is also a sticker! Hand any Prynt to a friend and he or she can unlock the content inside, bringing your photo to life!
Co-Founders Clément Perrot and David Zhang started Prynt in June 2014 in Paris, France. The team has grown to 20 working in San Francisco.
Prynt's mission is to inspire creativity and communication.
Learn more at www.prynt.co