Our Investment in Spark
Summary
More broadly, there has been growing momentum behind companies building the creator economy with $637m invested year-to-date in 2022 (vs the $939m in 2021 and $460m in 2020). Across the board, there is a need for platforms that allow for users to explore and develop their creativity.We are excited to announce our investment in Spark, an easy-to-use digital art app that makes being creative feel as fun as a game. Their goal is to transform the traditionally offline, $44b Arts & Craft market to better address the growing consumer demand for digital, creator-guided, and socially-integrated experiences.When we met Laura Mae and Moriah, the co-founders of Spark, it was clear that they had the right background to transform a market 90% dominated by physical products. Moriah, a prominent creator in the space, noticed that two thirds of her >7m audience who are regularly creating digital content were severely underserved and craving inspiring, social, and guided creation with intuitive tools that help transform their ideas to reality. In addition to Moriahs expertise, Laura Mae brings her expertise in creative fun, long-term user journeys from Weight Watchers (Wellness) and Happy Money (FinTech) and gaming experience from Amazon, EA, and Riot.We are extremely excited to partner with Laura Mae and Moriah and are very excited to lead their Seed round with participation from Long Journey Ventures and Night Ventures.