LitPic, a Seattle, WA-based social network for creator monetization through subscription, “Lits” gifting and tipping and brand sponsorships, raised $1.5M in venture funding.
Backers included Fritz Lanman (CEO of ClassPass), Kal Vepuri (Brainchild), Adrian Aoun (founder of Forward), Michael Arrington via Arrington Capital (Founder of TechCrunch), Tod Sacerdoti, Andreas Penna, and Coca Rocha, a Canadian fashion model, and Tribe Capital.
The company intends to use the funds to continue to expand operations and its development efforts.
Founded in 2021, LitPic is led by Co-Founders Maurice (Sok) Yi, Ryan Lewis, Dena Lawless, CMO Andy Karuza, LitPic helps creators of all types to monetize their content while rewarding the users that contribute and support them with more social status, exclusive access, and popularity within the community. Creators keep 100% of their earnings.
Through the app, users are empowered with in-app camera technology featuring an intuitive UI. Creators can make engaging content that can earn them money through peer-to-peer payments, premium content subscriptions, and brand deals.
The company does not need to share this data, as it does not have an ad-based model, but rather acts as a gifting and payment solution platform. LitPic is available for download now on iOS while Android users can get on the waiting list.