Welcome to Nerif’s newsletter!
We had a chat with Viralmoment’s founder, Chelsie Hall to understand how & what the pre-seed stage B2B Adtech startup is solving.
The Elevator Pitch - Straight from Viralmoment
ViralMoment is revolutionizing the way we understand online activity by harnessing visual conversations. We use AI and computer vision to interpret video, image, and audio content for customer insight and social analytics. We measure momentum, predict what is going viral, and are paving the future of sentiment analytics.
The Problem
Companies are unable to capture insights into social media trends and can miss out on good advertisements due to this or worse, face damage due to trends that put the company in a negative spotlight.
The Solution
Viralmoment is a platform that uses AI to interpret social media content for customer insights and analytics. These analytics can then be used by companies to form their advertising strategies and mitigate damage due to certain trends.
Validation
Viralmoment’s product launched in Jan 2021 and they have 7 brands that are currently using it. In addition to this, they have 20 users, including enterprises and researchers.
Competition & differentiating factors
Viralmoment is a unique situation where they do not have any major competitors yet, the closest competitors are companies that do sentiment analysis on textual data, but there are no trend-detectors for visual/audio data yet.
Fundraising
Previous fundraising/accelerators:
Viralmoment is a part of CMU’s Venture Bridge program, which provides $25k in funding and $30k in additional benefits.
Current plans:
Viralmoment is raising a pre-seed round of about $200k right now, which will get them through the summer, and after honing the PM fit, they plan to raise a seed round.
Contact
For more information about Viralmoment, you can contact Chelsie @ chelsie@viralmoment.com .
For feedback about Nerif’s weekly startup discovery newsletter, you can contact me @ akshaj+nerif@cmu.edu .