daydream has successfully raised $2.5 million in a pre-seed funding round, attracting investments from Basis Set Ventures, WndrCo, SOMA Capital, and notable industry leaders.
The platform specializes in automating programmatic SEO, offering a comprehensive service that spans from strategy to execution.
What Is daydream?
daydream, founded by Thenuka Karunaratne and Shravan Rajinikanth, is based in San Francisco. The company specializes in automating programmatic SEO from strategy to execution.
With a small team of 1-10 employees, daydream helps businesses identify search patterns, create content at scale, and automatically improve that content. Their clients include notable names like Product Hunt and Notion.
The team previously worked together at Flixed, a startup they bootstrapped to over $2M in revenue, leveraging programmatic SEO. daydream continues to build on this expertise to deliver comprehensive SEO solutions.
How Much Funding Has daydream Raised?
- Pre-Seed Round
- Amount Raised: $2,500,000
- Date: December 2023
- Lead Investors: Basis Set Ventures, WndrCo, Soma Capital, Hustle Fund
- Motivation Behind the Round: To scale customer acquisition through SEO and finance hiring and marketing efforts.
Total Amount Raised: $2.5M
Current Valuation: $10M (~estimated)
Key Investors
- Basis Set Ventures
- Details: Basis Set Ventures is a venture capital firm that invests in early-stage technology companies. They focus on providing support to startups that leverage AI and automation.
- Investment Focus Areas: AI, automation, early-stage technology companies
- Notable Investments: Scale AI, Quince, Workstream
- WndrCo
- Details: WndrCo is a holding company that invests in, acquires, and operates consumer technology businesses. It was founded by former DreamWorks Animation executives.
- Investment Focus Areas: Consumer technology, media, entertainment
- Notable Investments: Quibi, MasterClass, Aura
- SOMA Capital
- Details: SOMA Capital is a venture capital firm that invests in early-stage startups. They have a diverse portfolio across various sectors.
- Investment Focus Areas: SaaS, fintech, healthcare
- Notable Investments: Rappi, Razorpay, Lambda School
- Melissa Tan
- Details: Melissa Tan is a former executive at Webflow, a company known for its no-code website building platform. She has extensive experience in scaling tech startups.
- Investment Focus Areas: Tech startups, SaaS, no-code platforms
- Notable Investments: Not specified
- Lauryn Isford
- Details: Lauryn Isford is a current executive at Notion, a productivity and collaboration tool. She has a strong background in product management and growth.
- Investment Focus Areas: Productivity tools, collaboration software, SaaS
- Notable Investments: Not specified
What's Next for daydream?
daydream is poised to capitalize on the growing importance of SEO as a cost-effective customer acquisition channel. With plans to expand into e-commerce and retail sectors, the company aims to reach $1 million in Annual Recurring Revenue by the end of Q1 2024. Leveraging AI to enhance automated content creation and performance monitoring, daydream is well-positioned to increase its market share in the digital marketing space.
Future fundraising opportunities are likely, contingent on the speed of customer revenue acquisition. However, challenges such as competition from major retailers and the need to keep up with rapid changes in search engine algorithms and AI advancements could pose hurdles. If daydream's automated SEO solutions prove highly effective and scalable, the potential for acquisitions remains strong.
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