Yearly Archives: 2021

News: Adobe buying Frame.io in $1.28B deal

Adobe announced today it is acquiring Frame.io, a video review and collaboration platform used by over a million customers, for $1.275 billion in cash. Founded in 2014 by the owner of a post-production company Emery Wells and technologist John Traver, New York-based Frame.io was created to solve the workflows challenges filmmakers faced in their daily

Adobe announced today it is acquiring Frame.io, a video review and collaboration platform used by over a million customers, for $1.275 billion in cash.

Founded in 2014 by the owner of a post-production company Emery Wells and technologist John Traver, New York-based Frame.io was created to solve the workflows challenges filmmakers faced in their daily lives. 

Today, the Frame.io platform helps creative professionals streamline the video creation process by centralizing media assets, including dailies, scripts, storyboards, work-in-progress, and more, while also allowing for frame-accurate feedback and comments, annotations, and real-time approvals. The company additionally touts faster upload speeds than other cloud hosting services, like Vimeo, Box, Dropbox, and others.

Frame.io has raised $90 million in venture funding over its lifetime, and in November 2019, announced a $50 million Series C led by Insight Partners that included participation from Accel, FirstMark, SignalFire, and Shasta Ventures. Accel led the company’s seed and Series A rounds in 2015.

Adobe said the combination of its creative software, including Premiere Pro and After Effects video editing products, and Frame.io’s review and approval functionality would “deliver a collaboration platform that powers the video editing process.” The Frame.io web platform was designed to be a part of its customer’s existing processes, by integrating with non-linear editing systems (NLEs) such as like Adobe Premiere Pro. Such integrations allow editors to upload directly to Frame.io, then organize and share their products both internally and with external clients.

“Whether it’s the latest binge-worthy streaming series, a social media video that sparks a movement, or a corporate video that connects thousands of remote workers, video creation and consumption is experiencing tremendous growth,” Adobe said in a statement. “…Today’s video workflows are disjointed with multiple tools and communication channels being used to solicit stakeholder feedback. Frame.io eliminates the inefficiencies of video workflows by enabling real-time footage upload, access, and in-line stakeholder collaboration in a secure and elegant experience across surfaces.”

The deal is expected to close during the fourth quarter of Adobe’s 2021 fiscal year, and is subject to regulatory approval and customary closing conditions. Once the deal closes, Well and Traver will join Adobe. Wells will continue to lead the Frame.io team, reporting to Scott Belsky, Adobe’s chief product officer and EVP of Creative Cloud.

News: OnlyFans’ porn ban is crypto’s opportunity of a lifetime

Today, OnlyFans dropped the massive bombshell that it will be banning “sexually explicit content” from the app later this year. This is obviously a wildly seismic shift for OnlyFans, which completely disrupted the adult content industry and gave performers a path towards greater independence by allowing them to connect directly with their fans via subscriptions. This

Today, OnlyFans dropped the massive bombshell that it will be banning “sexually explicit content” from the app later this year. This is obviously a wildly seismic shift for OnlyFans, which completely disrupted the adult content industry and gave performers a path towards greater independence by allowing them to connect directly with their fans via subscriptions. This shutdown is also the opportunity of a lifetime for the crypto industry which could capitalize on the shutdown and a recent wave of increasingly consumer-friendly crypto payments infrastructure products to create a platform that won’t crumble under the influence of payment providers.

OnlyFans, which has been trying to raise at a unicorn valuation and running into plenty of trouble doing so despite huge revenues, didn’t mince words on the reasoning for today’s fundamental change. “These changes are to comply with the requests of our banking partners and payout providers,” a statement on the news from OnlyFans partially read.

Despite popular culture’s ongoing destigmatization of sex work and adult content, banking institutions are still fundamentally conservative and wary to handle money flowing through these platforms. Most of the operators of these platform are forced to deal with constant uneasiness of knowing their platforms might one day lose favor among these providers and instantly lose everything. All the while, “vice clauses” present in plenty of venture capital firms’ underpinnings keep them from operating in these spaces as well and prevent these platforms from accessing growth capital. It’s clear that adult content platforms are probably never going to have a friendly relationship with these financial institutions and it’s likely time for the platforms — and the creators using them — to move on.

In a lot of ways, OnlyFans dumping porn seems like an outright betrayal of their creator network and one those creators will be sure to remember when embracing whatever copycats spring up in their wake. They are likely going to look at new platforms with renewed skepticism in how they’ll handle payment provider standoffs, but there likely isn’t going to be a different outcome for ambitious platforms looking to grow. That would likely be a different situation for crypto native platforms, but given the tiny adoption, it’s still a substantial risk for creators to embrace a platform their fans might not know how to pay for content on.

The porn industry has been embracing crypto payments, albeit slowly. In 2018, Pornhub first announced that they would begin accepting cryptocurrency payments, fast forward to 2020 when Visa and MasterCard dumped the platform, now crypto payments and ACH bank transfers are the only ways to pay for its premium subscription service. There are already a few crypto platform players in this space like CumRocket and SpankChain catering to niche audiences (and probably in need of rebranding), but with the OnlyFans juggernaut out of the way, there might actually be a space for an existing or upstart player to innovate and capture this market.

The real challenge is in making it simple to onboard new users to both a new platform and potentially their first crypto wallet — while staying compliant with regulatory guidelines — at a time when more conventional web payment structures have gotten so streamlined and free adult content is just as prolific as ever. Know your customer (KYC) guidelines that push users to upload their passport or driver’s license to verify crypto purchases probably aren’t the easiest onboarding ask for a new crypto porn site, but as the market matures a bit and the challenges of a user setting up their first wallet are decoupled from the onboarding process for the platform, there are plenty of benefits to be realized.

Porn has always been a launchpad of sorts for new technologies. While the popularity of crypto has surged in recent months and nearly eclipsed $2 trillion in total assets, crypto penetration among the apps that people are actually using remains extremely low. As new solutions and startups pop up aiming to demystify buying and sending crypto, it feels like there’s a chance the industry could be in the perfect place to fill the void left by OnlyFans’ exit and build a more innovative platform in its image that goes all-in on crypto.

News: Twitter rolls out a series of improvements to its Direct Message system

Have you ever tried to share a funny tweet with a few friends via Twitter DM, only to accidentally start a group chat? You’re not alone. Today, Twitter announced that it will roll out a few quality of life improvements to its direct messaging system over the next few weeks, including the ability to DM

Have you ever tried to share a funny tweet with a few friends via Twitter DM, only to accidentally start a group chat? You’re not alone. Today, Twitter announced that it will roll out a few quality of life improvements to its direct messaging system over the next few weeks, including the ability to DM a tweet to multiple people at once in individual conversations. Researcher Jane Manchun Wong noticed that Twitter was working on this functionality last month.

No more (awkward) accidental group chats when you DM a Tweet to multiple people. Now you can share the same Tweet in up to 20 different DM convos, separately.

Rolling out on iOS and web, and soon on Android. (2/5) pic.twitter.com/oHYseF3EJE

— Twitter Support (@TwitterSupport) August 19, 2021

A potential downside of this update is that it might invite more spam — you can’t send a message to more than 20 people at once, but that’s still a lot of people. And users receiving these messages now may not realize they were a part of group spam, as the individual DMs will seem like private 1:1 messages.

Twitter says Android users will have to wait a bit longer than iOS and web tweeters to gain access to this feature — and it’s unclear how long that will take, because in the past, it’s taken years for iOS DM updates to reach Android. But as a consolation prize, on both Android and iOS, if you scroll up in a DM conversation, you’ll be able to return to the latest message by pressing a down arrow button to quick-scroll.

Twitter’s other two DM improvements are only rolling out so far on iOS — instead of timestamping individual messages with the date and time, messages will be grouped by day. Individual DMs will still have a timestamp, but Twitter says that this change will yield “less timestamp clutter.

Finally, in DMs, iOS users will be able to access the “add reaction” menu from both double-tapping and long-pressing on a message. Long-pressing a friend’s message also gives you the option to delete the message on your account only, report the message, or copy the text.

A demonstration of new Twitter DM features

Image Credits: Twitter, screenshot by TechCrunch

Twitter also announced today that it’s testing a feature that puts users’ Revue newsletters on their profile (Twitter acquired the newsletter platform earlier this year). But last week, it unveiled more noticeable UI updates that experts believe made the platform less accessible. Within two days of the update, Twitter made contrast changes on its buttons and identified issues with its proprietary font Chirp on Windows.

News: OnlyFans bans explicit content

OnlyFans has announced that it will ban sexually explicit content starting in October. The platform was not built specifically for porn but that has grown to be its most popular and visible use case, but pressure from “banking partners and payout providers” means the company will have to leave the adult content world behind and

OnlyFans has announced that it will ban sexually explicit content starting in October. The platform was not built specifically for porn but that has grown to be its most popular and visible use case, but pressure from “banking partners and payout providers” means the company will have to leave the adult content world behind and focus solely on SFW material going forward.

The news, first reported by Bloomberg, was confirmed by the company in a statement:

Effective 1 October, 2021, OnlyFans will prohibit the posting of any content containing sexually-explicit conduct. In order to ensure the long-term sustainability of the platform, and to continue to host an inclusive community of creators and fans, we must evolve our content guidelines. Creators will continue to be allowed to post content containing nudity as long as it is consistent with our Acceptable Use Policy.

These changes are to comply with the requests of our banking partners and payout providers.

We will be sharing more details in the coming days and we will actively support and guide our creators through this change in content guidelines.

OnlyFans did not respond to TechCrunch’s inquiries as to its definition of sexually explicit content or how it expected this would impact the company’s bottom line.

The OnlyFans platform has become the de facto standard for independent creators doing adult content. Over the pandemic it grew increasingly popular as the adult industry, like others, had its normal operations interrupted. It has proved an invaluable asset for many creators, professional and aspiring, who used the platform to directly monetize fans without interacting with notoriously predatory established adult industry companies.

But sex work has always been risky in online operations. The practical risk of hosting illegal content means platforms must exert constant vigilance for things like child sex abuse material, malicious content like revenge porn and unwanted leaks, and everyday internet threats like piracy.

At the organizational level, however, the companies may find it difficult to scale due to the trepidation of investors and banks, both of which tend to avoid the industry in general as a “vice,” much the way cannabis and sex toy startups have faced challenges. Pushback from financial backers and payment processors can effectively sink an entire business model.

OnlyFans in this case says openly that it is abandoning adult content due to exactly this type of pressure. While the company has recently debuted and promoted its OFTV app, a SFW alternative to the main OnlyFans site, and of course there are many creators on the platform who do not produce sexually explicit content, this will be an enormous blow to both the sex work industry and to the company itself. Affected creators were not notified ahead of time.

“This is going to shatter a lot of people’s main source of income, the foundation of their entire business,” said Tristan West, who as dreamboytristan is a top creator of adult content on OnlyFans. “Me and a lot of people have got to do a lot of work to secure our business, move our assets, move our content to another platform. It’s not the end of the world, but this is a huge setback.”

West noted that other platforms are finding ways to monetize adult content as well, such as Twitter adding its paid follows and sites like PornHub building out direct monetization opportunities as well. But OnlyFans holds all the cards and will need to make that transition possible.

“I’d like to see them do what’s needed — it’s weird that they haven’t come to us and talked to us in any way,” said West. “Offer a quick option to download all your content on OnlyFans — that’s your asset, that’s your business. That’s the bare minimum that they can do for creators.”

It’s a serious question whether OnlyFans will be able to survive this transition in any recognizable form. The choice to abandon their most lucrative and loyal segment of customers and creators may poison the well, with others declining to rely on a platform that failed to support others. Investors, once wary of the risk of putting money into a sex-adjacent product, may now be wary of paying to board a sinking ship. That $1 billion valuation may be farther away than ever.

The obvious and immediate answer from the tech community is to operate OnlyFans or something like it using cryptocurrencies, which are generally speaking not subject to these limitations. This may represent a way forward for the next platform, but for OnlyFans it may be too late to adapt.

“Thankfully, we have a couple months,” West said. “OnlyFans was the top platform in this market but they’re not the only one. It’s an opportunity for someone else to come around and do better for sex workers and online creators.”

This story is developing and may be updated in the near future with more information.

News: Let’s make a deal: A crash course on corporate development

If you’re a venture-backed startup at some point it would be wise to generate a return — either get acquired or go public. If you’re going to get acquired, chances are you’re going to spend a lot of time with corp dev teams.

Todd Graham
Contributor

Todd Graham is vice president at Venrock, a pioneering venture capital firm established in 1969.

Wash, rinse, repeat: A startup is founded, first product ships, customers engage, and then a larger company’s corporate development team sends a blind email requesting to “connect and compare notes.”

If you’re a venture-backed startup, it would be wise to generate a return at some point, which means either get acquired or go public.

If you’re going to get acquired, chances are you’re going to spend a lot of time with corporate development teams. With a hot stock market, mountains of cash and cheap debt floating around, the environment for acquisitions is extremely rich.

And as I’ve been on both sides of these equations, an increasing number of my FriendDA partners have been calling for advice on corporate development mating rituals.

Here are the highlights.

Before my first company was acquired, I believed that every acquisition I’d ever read about was strategic and well thought out. I was blindingly wrong.

You need to take the meeting

Book a 45-minute initial meeting. Give yourself an hour on the calendar, but only burn the full 60 minutes if things are going well. Don’t be overly excited, be a pleaser and or ramble on. Pontificate? Yes, but with precision.

You need to demonstrate a command of the domain you’ve chosen. Also, demonstrate that you’re humble and thoughtful, but never come to the first meeting with a written list of “ways we can work together.” That will smell of desperation.

In the worst-case scenario, you’ll get a few new LinkedIn connections and you’re now a known quantity. The best-case scenario will be a second meeting.

But they’re going to steal my brilliant idea!

No, they aren’t. I hear this a lot and it’s a solid tell that an entrepreneur has never operated within a large enterprise before. That’s fine, as not everyone gets to have an employee ID number with five or six digits.

Big companies manage operational expenses, including salaries and related expenses, pretty tightly. And there frequently aren’t enough experts to go around the moneyball startups for new domains, let alone older enterprises.

So there’s no secret lab with dozens of developers and subject matter experts waiting for a freshly minted MBA to return with their meeting notes and start pilfering your awesomeness. Plus, a key component to many successful startups is go-to-market (GTM), and most larger enterprises don’t have the marketing and sales domain knowledge to sell a stolen product.

They still need you and your team.

News: Revolut introduces salary advance feature in the UK

Fintech startup Revolut is launching a new feature called Payday. It is an alternative to credit card debt and short-term credit as it lets you unlock a portion of your wage early. If a business decides to integrate with Revolut, users can then access the feature from the financial super app directly. Right now, the

Fintech startup Revolut is launching a new feature called Payday. It is an alternative to credit card debt and short-term credit as it lets you unlock a portion of your wage early. If a business decides to integrate with Revolut, users can then access the feature from the financial super app directly.

Right now, the feature is limited to businesses based in the U.K., but the company plans to launch it in the European Economic Area and the U.S. as well. That’s the trick — Payday isn’t going to be available to everyone who receive their salary in their Revolut account through direct deposit.

Revolut has to plug into an employer’s payroll system first so that the company knows how much employees are earning at any point in time. The fintech startup says that employers don’t have to change their payroll system, though.

Once this is done, employees can unlock a portion of their earned pay whenever they want. Users can withdraw up to 50% of what they’ve earned in advance. While the feature is free for businesses, Revolut will charge a small, flat fee to users.

“We believe in the importance of making financial wellbeing accessible to all, and this includes focusing on the impact of financial stability on employees’ mental health,” Revolut co-founder and CEO Nik Storonsky said in a statement. “After the difficulties of the past year, the last thing employees need now is financial uncertainty and stress. It is important to move away from a situation where many are dependent on payday loans and expensive short-term credit, a reliance that is exacerbated by the monthly pay cycle.“

People who live paycheck to paycheck could leverage Payday for unplanned expenses. For instances, if you have to fix your car and it cannot wait until the end of the month, you can unlock some money right away.

This isn’t debt and doesn’t affect your credit score — it’s a portion of your salary, which means that you’ll receive less money at the end of the month when you get paid.

Even if you’re not using the salary advance feature, Payday lets you see how much you’ve earned so far this month. It’s going to be interesting to see whether a lot of companies adopt the feature. With millions of users in the U.K., chances are businesses are going to learn about Payday from their own employees.

News: A VC shares 5 things no one told you about pitching VCs

The success of a fundraising process is entirely dependent on how well an entrepreneur can manage it. Here are five pointers that founders should consider while pitching to venture capitalists.

Kunal Lunawat
Contributor

Kunal Lunawat is the co-founder and managing partner of Agya Ventures, a venture capital firm focused on proptech, travel, hospitality and the future of the built world.

The success of a fundraising process is entirely dependent on how well an entrepreneur can manage it. At this stage, it is important for founders to be honest, straightforward and recognize the value meetings with venture capitalists and investors can bring beyond just the monetary aspect.

Here are five pointers that founders should consider while pitching to venture capitalists:

Be honest and accurate

Raising a venture round is, in a way, a sales process, but any claims that could call into question a founder’s trustworthiness can result in a negative outcome rather than an investment.

As VCs, we cannot overemphasize how important it is that founders are transparent and upfront.

Here are a few select cases of such claims:

  • Overstating traction or revenues, which due diligence brought to light.
  • Concealing material attributes of the founding team — such as a co-founder’s commitment to the company, which at best was part time.
  • Speaking of committed investors who were about to wire money to the company, except they were still at the due diligence stage and eventually decided not to invest.

Investing in early-stage companies is often about making bets on people. As VCs, we cannot overemphasize how important it is that founders are transparent and upfront. It is critical to help establish the initial seeds of trust with a capital partner.

Further, most investors understand that things change — if there are any material shifts during the diligence process, communicating them promptly is an additional signal of maturity and uprightness. This will go a long way during the capital raise and beyond.

Know your BATNA

Founders often enter conversations with venture capitalists with a good handle on their product and the business. However, it’s common for entrepreneurs to falter at the negotiation stage, not knowing what their best alternative to a negotiated agreement (BATNA) is.

We have witnessed founders who mistake initial interest in the venture market for real commitment, and unreasonably hike their valuation, which results in them losing serious investors. We have also seen founders fail to ascribe the value serious VCs bring to the table and consequently hesitate to discount their valuation, only to later realize that the existing cap table lacks firepower.

The best way for founders to uncover their BATNA is to run an efficient process. This requires:

News: Deed pulls your employer’s charity and volunteer program into Slack to keep it front of mind

If your employer does any sort of charity donation matching, the system powering it might be… not great. Maybe it’s got an ancient interface; maybe it’s stuffed behind the VPN at some weird URL that takes a half hour to dig up every December when you remember there’s donation match money about to expire. Deed,

If your employer does any sort of charity donation matching, the system powering it might be… not great. Maybe it’s got an ancient interface; maybe it’s stuffed behind the VPN at some weird URL that takes a half hour to dig up every December when you remember there’s donation match money about to expire.

Deed, a company out of the ongoing Y Combinator S21 class, is looking to modernize the Corporate Social Responsibility (or CSR) concept – and do a bit more to keep it on your radar, while they’re at it.

Deed’s web interface does much of what you’d expect of a platform like this. It’ll handle employee donations and facilitate donation matching based on the employer’s rules, and it’ll offer up volunteer opportunities and track volunteer hours accordingly. And it’ll do it all with a clean interface that shouldn’t look out of place and dated in a modern company’s toolset.

But it also offers up plenty of neat stuff I haven’t seen the alternatives do — like a dating app-style swipe interface for narrowing down volunteering opportunities, deeper support for employee resource groups (you can follow employee groups within your company, and those groups can highlight organizations you might want to donate to), and tools to promote a bit of friendly who-can-volunteer-more competition between departments. Next up: Slack integration.

Image Credits: Deed

This week Deed is rolling out an early build of its Slack tie-in which, as company co-founder Deevee Kashi tells me, is meant to “meet employees where they are.”

While Deed’s web interface isn’t going anywhere, this new integration lets them beam many of the most commonly accessed features – plus a feed of any donation/volunteer activity your coworkers opt to share – right into Slack. Easier access, harder to forget.

Deed is a bit further along than many of the companies we see coming out of YC. Many of the teams we see in each YC batch are made up of a couple co-founders working from whatever desk space they can find; Deed, meanwhile, has 20+ employees across the world and a growing HQ in Berlin.

But it’s still early days for the company – much of its growth, and even its focus on the enterprise, is relatively new.

Deed’s hybrid in-person/remote team Image Credits: Deed

Deed started its life in 2016 as an app with a similar, but different, focus. Kashi, coming off a ten-year stint of running night clubs and, as he puts it, “throwing parties for a living”, decided it was time to retune.

“Externally people perceived my career as being successful. Internally, I was very… distraught,” he tells me. “I wasn’t really connecting to what I was doing and, by any means, it didn’t align with my values.”

“I took a step back and decided to volunteer, just kind of locally in the city. After trying to volunteer, I realized how cumbersome the process was – how antiquated all the technology was, and how nonprofits were struggling to engage with younger demographics.”

From that came the first iteration of Deed, then an app meant to help individuals find the right volunteer opportunities for them. They grew a community of tens of thousands of users around New York… then the big companies came knocking.

“Their employees came to them and said they really enjoyed using the app in their free time,” says Kashi. “They’d assumed we had an enterprise offering as well to help them with their employee volunteering and engagement programs.”

After a bit more tugging at that thread, the team decided to go all in on enterprise in 2020. They’d take what they learned about building a pretty, modern interface for individual volunteering and adapt it for the needs of these big teams. And it seems to be working; they quickly signed their first big customer with Adidas. Then came Sweetgreen, Airbnb, and Stripe. Kashi tells me that they’re now working with companies with anywhere from 250 employees to 100,000.

Deed raised $2M at the end of last year – and with the momentum behind its shift to enterprise teams, saw its own team grow quickly. “We couldn’t afford two desks.” says Kashi. “Now we’ve hired a bunch of people over the past year and a half. And I’d never met them in person! Then all of a sudden I walk up and the entire floor is ours. It’s really surreal onboarding people remotely, managing them for a year and a half… and then seeing them for the first time.”

News: Astra given regulatory green light for its first commercial orbital launch at the end of the month

Rocket launch startup Astra has received a key license from the Federal Aviation Administration, giving the green light for the company’s first commercial orbital launch at the end of the month. Astra CEO Chris Kemp tweeted the news on Thursday, adding that the launch operator license through the FAA is valid through 2026. The new

Rocket launch startup Astra has received a key license from the Federal Aviation Administration, giving the green light for the company’s first commercial orbital launch at the end of the month.

Astra CEO Chris Kemp tweeted the news on Thursday, adding that the launch operator license through the FAA is valid through 2026. The new license is a modification of the company’s previous launch license and applicable to the current version of the company’s rocket, a company spokesperson told TechCrunch.

Thrilled that @Astra now authorized to conduct launches out of Kodiak through 2026 with @FAA launch operator’s license! #AdAstra pic.twitter.com/QKn3mgRuwY

— Chris Kemp (@Kemp) August 19, 2021

The license, posted on the FAA’s website, authorizes Astra to conduct flights of its Rocket v3 launch vehicle from the company’s launch pad at the Pacific Spaceport Complex in Kodiak, Alaska. It expires on March 9, 2026. It clears the way for Astra to conduct a demonstration mission for the U.S. Space Force on August 27, as well as a second launch planned for some time later this year.

This is proving to be a big year for Astra. In addition to conducting its first commercial orbital launch on August 27, the company also starting trading on the NASDAQ under the ticker symbol “ASTR.” The company made its debut after merging with special purpose acquisition company Holicity at a pro-forma enterprise value of $2.1 billion.

Earlier this summer, Astra also acquired space-propulsion company Apollo Fusion. The acquisition gives a possible hint into how Astra is thinking about future launches, as electric propulsion systems are useful for moving objects from lower to higher orbits.

News: Role’s video role-playing platform makes a $2.75M charm attempt on the burgeoning tabletop world

Tabletop gaming is in the middle of a historic boom, despite recent restrictions imposed on in-person gatherings by COVID. The tools adopted by game masters and casual players to play remotely are powerful but not always the easiest to use or adopt. Role hopes to change that with a super-accessible video platform focused on the

Tabletop gaming is in the middle of a historic boom, despite recent restrictions imposed on in-person gatherings by COVID. The tools adopted by game masters and casual players to play remotely are powerful but not always the easiest to use or adopt. Role hopes to change that with a super-accessible video platform focused on the social aspect of role-playing games, and it has raised a $2.75 million seed round to do so.

It’s hard to say what has powered the incredible growth of the tabletop gaming space, which just a few years ago was perceived as a sleepy realm of basement-dwelling nerds, a niche within a niche. But it was a different kind of sleeping giant, one that has proven to be immensely diverse, valuable, and surprisingly tenacious in the face of the pandemic.

Some platforms, like Roll20 and Fantasy Grounds, have seized on this opportunity to provide online video collaboration platforms for playing games like D&D, strategy titles, and many others of the general tabletop type.

But Logan Dwight and Ian Hirschfeld, co-founders of Role, felt these approaches tended to emphasize the mechanics over what they felt was a more important aspect of RPGs.

“We asked ourselves, why is it that people, when they have all these options, choose to play D&D on the internet? And what we figured out is, it’s the people,” said Dwight. “The game lives in the minds of the people, a shared social experience. It’s about the conversation, the face-to-face interactions.”

This is the start of something new, they said — and big. As an analogue, they referred to the social gaming explosion a decade ago.

“People always find a way to play. Because we had social media platforms and mobile phones then, we were socializing over those — so we naturally looked for ways to play over them,” they said. “We’re at another one of those inflection points now with the explosion of online video and the creator economy in gaming. Video has become so good and so ubiquitous it’s becoming the dominant way people socialize — and then what naturally happens is we look for a way to play. And it turns out the, answer was right under our noses, and it’s been there since the ’70s: it’s role playing, a game that takes the form of conversation.”

Role was designed from the ground up to smooth out and simplify how the complex mechanics of these games are implemented, putting the players visually and cognitively at the forefront. After all, when you’re playing D&D or another game around the table, you spend most of your time looking at each other, not the game board — because it’s a game and you’re having fun with each other, right?

Of course, it’s easy to say the face-to-face interactions should be front and center, but the truth is these games are mechanically complicated and involve sheets, dice, maps, rulebooks and so on. Dwight said the problem here is not so much keeping them always in view, but making them simple and intuitive to access and involve in gameplay.

Take a character sheet with some attributes and associated bonuses, and a standard combat encounter. Depending on how well the GM has prepped, it may be that the dice rolls need to have bonuses added manually, and the results compared manually to the defending monster’s sheet. But if the bonuses, the dice, and the monster’s stats are all aware of one another, you know if you hit as soon as the die is cast.

Screenshot of Role's interface for building game systems.

It looks complicated, but compared with scripting it manually, this is a cakewalk.

This can be done in many games but it’s not always easy, and becomes much harder the further one goes from official, canon rulebooks. House rules are common enough, but these days there are entire variant game types being built out from open-license rulebooks that have no “official” support from a major gaming company like Wizards. Prepping a game for play online might be weeks of work that’s relatively technically demanding.

Some GMs and creators take pleasure in the intricacy of these systems, but as Dwight pointed out, the expansion of the community means more people are coming to this from non-gaming and non-tech backgrounds.

“The core skills people are bringing to this are that they’re a writer or something. So the ability to create together needs to be really easy and really powerful,” they said. “We want to give people like… a Squarespace for tabletop RPGs. It’s a WYSIWYG editor, the RPG equivalent of a box of LEGO. You can make a whole set of templates for whatever game you want to run, tweak sheets, create animations, all without having to touch code, and you can share it easily.”

The platform has already seen major growth in user-created campaigns and variants for games designed to be built upon, like Mörk Borg and Lancer, with thousands being shared.

Role first raised money via Kickstarter (though the idea goes back to 2015), then via some angel funding, but this seed round brings in their first proper VC money. The $2.75M round is co-led by Konvoy and London Venture Partners, with whom Dwight said they were pleased to find willing partners who understood the opportunity perfectly. That’s a feat, considering the skyrocketing value and diversity of tabletop has taken even industry veterans by surprise.

The money is going towards effecting the lessons the company has learned from its early adopters, with a renewed focus on ease of use, accessibility, and extensibility. As for making money, the company intends to do so through a marketplace for games and scenarios, and for premium features like extra online storage and so on. But for regular users who just want to play with friends, Role is free to sign up for and use right now.

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