Leading Creative Juice’s Series A
Over the course of the past few years, we’ve been witnessing the evolution of entrepreneurship first hand through a massive wave of individual creation online. The social internet has unlocked the ability for people to have unlimited distribution and visibility, which has in turn created many new ways for individuals to generate income by delivering digital products, services, and content online. We have seen the disruption of nearly every single industry from transportation to food to entertainment. Furthermore, we’ve been impressed by the myriad new ways people have developed to monetize their skills and talents, incentivizing creativity and allowing for individual financial independence. We at Acrew have been inspired by this trend — as venture capitalists, our greatest honor has been to support and empower the innovators and builders shaping the future and we’re now witnessing a new class of entrepreneurs that are shaping culture at scale.
What is more colloquially known as the “creator economy” now enlists nearly 50mm people around the world who are generating some form of income from their creative contributions online. This economy is nearly $30 billion in size today with ~2 million creators who consider this a full-time career. The cultural and economic impact of these individuals cannot be ignored: “influencers” alone reach 2 billion monthly consumers worldwide — with 7 out of 10 consumers saying they trust influencers’ recommendations just as much as the opinion of real-world friends.*
And yet, we are still in the very early innings of what is possible in this ecosystem. The tools and resources available to support this type of entrepreneurship are still limited. Creators have lacked the financing and business tools they need to build great businesses.
Enter Creative Juice. Creative Juice is building the fundamental infrastructure to activate this new wave of entrepreneurship. Creative Juice provides the financial and administrative platform for creators to run and scale their businesses so they can spend their precious time creating.
To start, Creative Juice has been investing in creator businesses directly through a fund called “Juice Funds” of which the company has already invested more than $2mm and has just expanded its pool for financing to over $50mm. In addition to capital, Creative Juice has a suite of tools they’ve deployed including business bank accounts, invoicing, and automated splits (so creators can split their earnings with collaborators and managers, an otherwise time intensive process).
Supporting this ecosystem requires depth and thoughtfulness, and co-founders Sima Gandhi and Ezra Cooperstein are the ultimate founding team for this business. As one of the first employees at Plaid, Sima built out the partnerships, strategy, policy and banking teams. Her background in fintech and financial policy makes her uniquely suited to build this platform. Ezra has spent his career in the creator economy at places like Al Gore’s Current TV and Fullscreen, he was then the CEO of Maker Studios which sold to Disney for $500 before becoming the President of Night, a management company for the world’s best digital creators including MrBeast, Moriah Elizabeth, Aphmau, etc. We couldn’t be more excited to help Sima, Ezra and team build on their vision.
Democratizing access to financial services is fundamental to our fintech philosophy at Acrew, and a core value that we share with the Creative Juice team. We’re thrilled to have led Creative Juice’s Series A along with a stellar set of co-investors including Inspired Capital, Index Ventures, Box Group, TQ Ventures, and Slow Ventures.
By: Lauren Kolodny, Maitree Mervana Parekh, and Charlie Liao