Spayce is a location-based social app that encourages users to share photo and video "memories" tied to specific locations rather than anonymous gossip. The app uses a follower model and a star-rating system to reward quality content, requiring users to identify themselves initially and unlocking anonymous posts only after earning stars. Planned product updates include a more streamlined posting process, easier geotagging, a private chat option, and a "montage" feature that aggregates public content around a location (similar to a public Snapchat Story). The free iTunes app has grown to just under 40,000 users, reportedly adding over 4,500 users daily in early days, with the average user opening the app five times per day. Early traction is concentrated at roughly 150 college campuses in New York and New Jersey, though the app is usable across the U.S. The company is headquartered in San Francisco, operates with a team of 10, and has raised $2.5 million from a single wealthy Harvard angel investor.

Total raised

$3M

Funding rounds

1

Latest round

Equity

Latest activity

Mar 2015