The former head of Skype’s mobile product team has secured the growth capital he needs for his photo-based start-up.
Nicholas Babaian, who has set the business up with Matthew Sheppard, an entrepreneur with experience building platforms for Qualcomm and Yahoo!, and two other technology business builders, founded Lifecake to provide a way for parents to organise and share photos.
London-based Balderton Capital has stepped in as investor, with partner Roberto Bonanzinga leading the deal for the firm.
‘At Balderton, we believe that easy private-sharing of your family’s pictures and videos is still an unsolved consumer need and a potential huge business opportunity,’ Bonanzinga says.
‘Since the very first meeting I was totally inspired by Nick’s vision and the determination of the whole Lifecake’s team to build a beautiful product.’
More on Balderton Capital deals:
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According to Lifecake, since setting up, the London start-up has secured a third of its user base from parents in the United States. Its service provides alerts via a mobile app (on iPhone or Android) for email when images have been added.
Babaian, CEO of Lifecake, comments, ‘Mums and dads are often reluctant to share photos and videos on Facebook and other social platforms, due to privacy and trust issues.
‘Now, they have a secure and intimate place to share only with those who truly care.’
For Balderton Capital, the investment is the second it has made during November. Earlier in the month the firm led a £3.5 million commitment into San Diego and Newcastle-based website optimisation business Ezoic.
Lifecake now joins the likes of WorldStores, Wonga and The Hut Group as portfolio companies at Balderton Capital, which has backed 100 companies since 2000.
