Retro raises $21M Series A to build ad-free, friends-only photo sharing
What's the deal? RetroDealroom has a profile for this one. Try Dealroom →, the friend-focused photo-sharing app built by former Instagram product engineers Nathan Sharp and Ryan Olson, has raised $21 million in Series A funding at a valuation of over $100 million. The round, closed in December and revealed in an SEC filing under the startup's name, Lone Palm LabsDealroom has a profile for this one. Try Dealroom →, was backed by Thrive Capital, Figma chief executive officer Dylan FieldDealroom has a profile for this one. Try Dealroom →, Scribble VenturesDealroom has a profile for this one. Try Dealroom →, Box Group, Imaginary VenturesDealroom has a profile for this one. Try Dealroom →, and others.
What's the endgame? Launched in 2023 as a personal photo journal, Retro now lets users privately share weekly photos with friends, create shared albums, and "rewind" through memories. It doesn't monetize via advertising, instead offering in-app subscriptions with features like video, GIF and sticker comments, unlimited history, and custom app icons.
Why now? The raise reflects demand for social apps that connect people directly, rather than through algorithms filled with creator content and AI slop. "Something that has to be true and will be true is that people will still want to see more of their friends," Sharp told TechCrunchDealroom has a profile for this one. Try Dealroom → in December, referring to how For You-style feeds have taken over social media.
By the numbers: Retro has been downloaded around 7 million times since launch, per AppfiguresDealroom has a profile for this one. Try Dealroom →, and its in-app spending has jumped more than 460% over the past 180 days. Subscribers remain a small subset of users, but the company sees them as committed customers.
The signal: At $21 million, the round lands in the top quartile by size among comparable deals — a meaningful bet on friend-first social. As algorithmic feeds and AI-generated content dominate the major platforms, investors are wagering that intimate, ad-free spaces still have room to grow.
Read more: TechCrunch
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