Stockholm-based Sesamy, a digital content platform, announced that it has raised an additional €3.3M in a Seed round of funding to accelerate its growth and further expand into digital news and magazine content. The company has now raised €7.3M to date.
The round was led by GP Bullhound, with the support of Co_Made, Tham Invest, and Brofunds. Existing investors Måns Ulvestam, Karl Rosander, and Hållbar also participated in his round.
Sesamy says it will focus on building its news vertical through partnerships with publishers to use their paywall technology and offer single purchases.
In October 2022, Sesamy made its first foray into the news by collaborating with top Swedish newspapers Breakit and Kvartal to integrate their technology.
Sesamy will also use the funds to provide a new tech-driven approach to monetizing news and magazines, particularly through its groundbreaking technology SmartID. (SmartID enables publishers to monetize non-subscribed readers without cannibalizing their existing revenues from digital subscriptions.)
Founded in 2021 by Karl Rosander, Måns Ulvestam, and Markus Ahlstrand, Sesamy ensures that premium digital content can be easily accessed, and owned, without the need for subscriptions.
Since its launch, the company has partnered with every major book publisher in Sweden and Denmark, to offer its users the option to purchase ebooks, audiobooks, and podcasts as single purchases.
Through their single-purchase option for digital content, Sesamy aims to de-wall and re-democratize access to premium content so that users only pay for the content they want while still maximizing publisher revenue.
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