Tamiami Angel Fund III, Florida’s largest angel fund, invested in Fotobom Media, a mobile phone keyboard application that delivers content based on users’ emails and text messages.
Tamiami Angel Fund III invested $568,000 into Fotobom Media, based in San Francisco. Fotobom is the 15th company in the portfolio of Tamiami Angel Fund III.
According to social-media analytics, 85% of the information sharing on mobile phones occurs when people email or text-message content to each other using apps such as WhatsApp and Snapchat. Yet marketers and publishers spend more than 90% of social-marketing dollars on social networks such as Facebook, Instagram and Twitter.
Working in partnership with network carriers, phone manufacturers and messaging applications, Fotobom’s keyboard application is preloaded on mobile phones and set as the default across all applications on a user’s phone. Then, Fotobom’s technology suggests content, apps and websites to users based on contextual information gathered from messages sent via the keyboard app.
“Fotobom connects mobile phone users to relevant information and content whilst texting,” commented Max Minhas, T3’s board member representative. “Its’ cutting-edge technology will change text messaging from a basic communication medium to a powerful social networking platform. It’s currently on Verizon messenger and in the process of expanding globally.”
“This exciting new technology will help publishers and marketers target audiences much more accurately because Fotobom has real knowledge of users’ preferences from what they emailed or texted,” says Timothy Cartwright, partner of Fifth Avenue Family Office, the founder of Tamiami Angel Funds.
The sharing of information by copying and pasting content in emails and text messages has been dubbed “Dark Social” because until now it hasn’t been mined. Companies are eager to connect with users in this untapped world because it’s more accurate than the algorithms developed by social-media giants.
“By understanding what users are sharing on Dark Social, Fotobom is better able to effectively target users with relevant and useful information using groundbreaking technology,” says Cartwright.
Angel investing is an important source of financial support and mentoring for new and emerging-growth businesses such as Fotobom Media. Angels help entrepreneurs before they seek venture capital, but after they’ve exhausted money from friends and family. Such investors typically are wealthy individuals or families who have the means to risk their capital and give freely of their time to mentor entrepreneurs in the startup phase of a business.
Headquartered in Naples, Fla., Tamiami Angel Funds consists of four member-managed funds that allow high-net-worth individuals and families to invest in promising early-stage and expansion-stage companies located in the U.S., with a preference for those in the state of Florida. Fifth Avenue Family Office is the administrator of the angel funds and caters to high-net-worth entrepreneurs and their families. For more information, visit www.tamiamiangels.com.