A Cincinnati startup that graduated from Techstars last year is looking to pursue its first seed round of funding, with a goal of raising more than $1 million to further grow its team.
Ryan Frew, founder of TinnCann, a tech startup that allows 1-on-1 video chats with athletes and experts in fashion, photography, music and more, said the company is planning a priced round totaling $1.5 million. It’s TinnCann’s first raise outside of the funding it received from friends and family and Techstars Chicago, one of the country’s most notable accelerator programs.
TinnCann graduated from the cohort in October with access to $120,000 in equity financing.
Frew first announced the move in a company-distributed email update. He said it’s a significant development for the 14-month-old startup.
“(It) marks another milestone, and it's definitely the most daunting one yet, because the success of TinnCann is riding on it,” he said. “I'm confident we have the right pieces in place.”
Those pieces include a functional product. Frew, a former Microsoft engineer, said anyone who wants to book a conversation one of its experts — who range from gold medalists to master chefs — can do so. The company continues to build out its go-to-market strategy and is gaining in terms of name recognition: TinnCann is one of eight teams remaining as part of Cincy Inno's annual "Inno Madness" bracket competition.
TinnCann has also added to its team, including chief operating officer, Kelsey Crookes, who joined in October from Kroger’s 84.51. The company is now at four employees. On its advisory board are Trevin Chow, who led product for a similar company before it sold to Nike; and Ben Press, who helped Chicago-based celebrity shoutout app Cameo build its agency partnerships, Frew said.
And Frew continues to focus on expert recruitment. TinnCann’s roster of professionals remains highly curated, meaning not just anyone can join the platform. Experts include 2012 Super Bowl champion and former New York Giants linebacker Mark Herzlich; professional barefoot water skier Keith St. Onge; and Emmy-winning broadcaster Jaymee Sire, among others. There are currently 33 experts on the platform, including nine who joined over the past two weeks.
“These are primarily experts who we’ve reached out to cold," Frew told me. "TinnCann's biggest mark of validation is the extraordinary people who are already in high demand agreeing to carve out time from their busy schedules to be available on the platform, purely because they believe in the vision.”
Frew said the capital will be used primarily to add headcount. That will allow TinnCann to build agency partnerships and a referral program, begin to drive user demand and make product improvements, he said.
