When you’re a frequent TechCrunch reader, you in all probability already find out about mmhmm, the startup with the identify you possible both love or hate. It’s Phil Libin’s second act after Evernote, and it’s a startup born of the pandemic perhaps extra so than every other, offering improved video chat instruments together with automated background removing and superior presentation options. The corporate, which is simply over a 12 months outdated, has now raised a complete of round $140 million due to a recent injection of $100 million first reported by Bloomberg on Tuesday, which is considerably astounding when you keep in mind utilizing the primary early beta variations like me.
Startups with foolish names elevating a lot of cash is hardly an distinctive prevalence in tech, however Libin’s startup earns additional credit score for barely having a reputation in any respect (it’s actually only a sound). The corporate was constructed on the concept that present video instruments actually fail to offer customers with entry to all of the potential that trendy expertise provides, notably in the case of displays. Mmhmm’s core presenter instruments assist your conferences look extra like skilled newscasts than warmed over digital variations of transparency slideshows and whiteboard scrawls, and the corporate has steadily been including options and enhancing its efficiency by frequent iterations since its founding.
Because it stands, mmhmm works in tandem with the prevailing video companies that folks use for digital conferences, together with Zoom. However Bloomberg says it’s going to go standalone as nicely, and introduce a cellular app model. That feels like a superb use of the brand new funds, which come from SoftBank’s Imaginative and prescient Fund, Sequoia Capital and extra.
Even projecting ahead to a post-pandemic world the place digital conferences are much less necessary, they’re in all probability nonetheless a everlasting a part of the working world. However mmhmm’s characteristic set additionally appears to virtually outline the idea of ‘characteristic, not product’ that’s offered as a cautionary story to startups crafting wings of wax and hovering as excessive as they will when it comes to raises and valuation.