If you have been keeping up with our investment updates, you know that we affirmed that we will be doubling down during the Corona Virus time. This pandemic has changed consumer habits forever, whether we have the audacity to believe it or not. We have seen enterprise products (yes Zoom) turn into consumer products, we have seen 100m & 200m dollar Seed round valuations for consumer tech (Clubhouse and Roam).
The social fabric of our society is being redefined. Companies like LunchClub went from being networking nice-to-have tool to a fundamental way in which we connect with others during quarantine.
Adopting to this new reality, specifically the emergence of video as the dominant mode of communication and social interaction we, at this unnamed fantasy fund, decided to narrow our focus during the pandemic on tools that would elevate this experience. Zoom, Skype, Webex were not built for us to spend 3-4 or even 6 hours hopping between calls. Our last two investments in Krisp (audio enhancement) and Roam Research(Note taking) fall within that realm of products building the infrastructure for this new reality we find ourselves in. Today I am proud to announce that we are deploying $250k into mmhmm.
Mmhmm, at its core, is a camera app. They override your default camera and allow you to do things as presentations and walk-throughs in a more interactive intuitive manner. They work with almost every single video-conferencing company. mmhmm was built for the remote-first world, it is not simply trying to recreate or substitute “how we used to do things.” Rather it is more focused on how things “ought to be.” It is addressing phenomenas as Zoom fatigue and collaborative video presentations, consumer behaviors that didn’t exist merely 3 months ago.
The team at mmhmm has been building and shipping products at rocket speed. The market reception has been phenomenal. And the user experience can be best described as delightful. I can’t remember the last time I tried out a new product that put a smile on my face. Phil understands people and users like no one else can and we are extremely proud and humbled that he allowed us to be part of this journey!