Wedding photo app company WedPics, which in December raised $4.25 million in funding, has raised an additional $2.25 million.
“So, cumulative, we have access to $6.5 million in capital,” said Justin Miller, co-founder and CEO of the 19-employee company based in Raleigh.
The new capital includes $750,000 raised from Barbara Corcoran of “Shark Tank” fame and her online AngelList syndicate, plus an additional $1.5 million in debt funding.
WedPics, whose free app enables wedding guests to share the photos they take in order to create a wedding album for the happy couple, plans to use the new funding to accelerate its growth.
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“Now that we have access to a lot more capital, I think we’ll see some exponential growth this year,” Miller said.
The company’s app was used at 270,000 weddings last year, but this year WedPics is eyeing 800,000 weddings.
“We have set the bar very high,” Miller said.
Last year the company generated roughly $385,000 in revenue. That revenue came primarily from printing photos for wedding couples and guests and for cards that wedding couples can use to notify guests that they can participate in creating a WedPics photo album.
But right now, said Miller, revenue is secondary to the company’s primary goal of acquiring new users.