Pixilated’s cofounders are offering a stake in the company through a crowdfunding campaign as they look to expand use of the company’s photo booth software and kiosks.
The Morrell Park–based company is seeking to raise up to $107,000 through equity crowdfunding, offered through the Microventures platform. The approach turns crowdfunding backers into investors with a stake in the company. Made legal under Title III of the federal JOBS Act, opens up the chance to fund companies to people who aren’t associated with a VC or accredited as an investor.
Pixilated’s campaign is live through the end of June.
— MicroVentures (@microventures) May 19, 2018
Long recognizable around Baltimore for its open-air photo booth at events, Pixilated raised $500,000 in 2017 as it looked to scale with a software platform and photo kiosk that creates an interactive experience for visitors to businesses and spaces, and helps marketers capture leads. The Pixi kiosk (which evolved from the WallPixi) is designed to allow attendees of a space or event to take their own photos, and can customized for specific venues and brands with external wraps and photo filters. It’s powered by the company’s Pixi Cloud software platform, which sends photos to users and is designed to automate marketing functions with dashboards and integrations with CRMs and email services.
According to cofounders Nic China and Patrick Rife, the company has worked with the Baltimore Ravens, Lyft, UMBC and Under Armour locally. It’s been expanding in the Mid-Atlantic and nationally in states like Washington, Texas and Illinois and Colorado, as well as a recent initial appearance in Canada. It’s been deployed for brands like Comcast, and as well as in venues like arenas, coworking spaces and medical marijuana dispensaries.
Rife said the company has stable growth planned following the raise. The company recently brought on its first sales hire, and is looking to make future hires in sales and development, as well as on the operations side to fulfill orders.
In deciding to pursue the equity crowdfunding campaign, China said the company was seeking to raise capital outside Baltimore and took note of local startups going that route such as Arbit. Upon meeting other founders in their travels who raised money via equity crowdfunding, “our courage to do it was strengthened that much more,” Rife said.
As crowdfunding inevitably has marketing tied in, the cofounders characteristically jumped at the chance to add a personal touch and some fun. Rife said the campaign presented a chance to assemble a campaign that showed off the company’s work in recent months as it launched the new platform.
“There’s always been a passionate side to our company and we thought we could really tap into that,” Rife said.-30-
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