mmhmm Valuation, Funding & Investors
mmhmm is valued at $100M as of October 2020.
Last mmhmm valuation
$100M
Series A · Oct 2020
Last mmhmm funding round
$100M
Series B · Jul 2021
Cumulative funding mmhmm raised
$135M
across 3 funding rounds
Key investors in mmhmm
Sequoia Capital
SoftBank Group
Mubadala
World Innovation Lab
Human Capital
All Turtles
About mmhmm
mmhmm is a Bentonville-headquartered developer of virtual camera software for video conferencing. The app integrates with Zoom, Teams, and Google Meet, offering dynamic backgrounds, avatars, and collaborative presentation modes. Features include AR effects and team-up virtual stages for remote demos. mmhmm supports Mac and plans Windows expansion. Founded in 2020 by Phil Libin, it raised $32 million in seed funding.
Founded
2020
HQ
Bentonville, ARWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$100M (Oct 2020)
mmhmm Valuation
mmhmm is currently valued at $100M, based on its Series A in October 2020.
The $30M round was led by All Turtles and Sequoia Capital.
mmhmm valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2020 | Series A | $100M |
mmhmm Funding History
mmhmm has raised a total of $135M across 3 funding rounds.
mmhmm's first fundraising round was a $5M seed round in July 2020. The most recent completed round was a $100M Series B in July 2021.
mmhmm funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2021 | Series B | SoftBank Group (lead); World Innovation Lab; Human Capital; Sequoia Capital; Mubadala | $100M | - | mmhmm is a video communications platform developed by Phil Libin and the All Turtles team, offering tools to enhance video presentations and virtual interactions, integrating with platforms like Zoom and Google Meet. The company raised $100M in a Series B round on July 7, 2021, led by SoftBank Vision Fund with participation from Sequoia Capital and undisclosed investors, bringing total funding to $130.5M across multiple rounds. Investors in mmhmm include a broad set of 36 backers, with the Series B aligning with the specified participants: Human Capital, Mubadala Capital Ventures, Sequoia Capital, SoftBank Vision Fund, and World Innovation Lab. Post-funding, mmhmm continued product development, announcing features like Chunky for presentations, a custom video player for streaming, and organizational tools such as Presentation Library and Loaf. The platform aimed to improve both creation and consumption of video content, with plans for iOS, Android, and Windows expansion. mmhmm later made acquisitions, including Macro on November 20, 2021, indicating strategic growth. |
| Oct 2020 | Series A | All Turtles (lead); Sequoia Capital (lead) | $30M | $100M | mmhmm is a video communication platform offering tools to enhance professional presentations and virtual social interactions, launched in 2020 by the Evernote founder. It provides a virtual camera and related software for video calls, later rebranded to Airtime with products like Airtime Camera and Airtime Creator. Later developments include rebranding to Airtime by 2025, with backing from Sequoia Capital and SoftBank, and product launches like a free-to-$20 Airtime Camera and $10/month Airtime Creator subscription. The company raised funding across multiple rounds, including a Seed VC round on July 15, 2020, involving investors such as All Turtles and Sequoia Capital. A subsequent Debt round also occurred on the same date. The company continued fundraising with a Series B of $100M on July 7, 2021, led by SoftBank and Sequoia Capital, bringing total funding to approximately $130.5M over 5-6 rounds from 36 investors. |
| Jul 2020 | Seed | Sequoia Capital (lead) | $5M | - | mmhmm raised funding in multiple rounds, including a Seed VC round on July 15, 2020, and a Series A on October 7, 2020, with Sequoia Capital as an investor across Seed VC, Series A (2020), and later Series B (2021). The company received investments from 36 investors total. A $100M valuation is listed for the October 7, 2020 Series A round. |
Who has invested in mmhmm?
6 investors have backed mmhmm across its funding rounds, including Sequoia Capital, SoftBank Group, Mubadala, World Innovation Lab, Human Capital and All Turtles.
Lead investors include SoftBank Group, All Turtles and Sequoia Capital.
mmhmm Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 3 | Lead | Jul 2020 | |
| Bentonville, AR | 1 | Lead | Oct 2020 | |
 Tokyo | 1 | Lead | Jul 2021 | |
| San Francisco, CA | 1 | Participant | Jul 2021 | |
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Start Free TrialAcquisitions by mmhmm
mmhmm has acquired 2 companies to date.
Last acquisition by mmhmm was on November 20th 2021. mmhmm acquired Macro for undisclosed valuation.
Latest Acquisitions by mmhmm
| Description | Macro is a Los Angeles-based media production company targeting multicultural audiences through films, television series, and digital content. The firm develops projects such as the feature film "Blindspotting" and television series "Dear White People," partnering with platforms like Netflix and Hulu for distribution. Founded in 2015 by Charles D. King, Macro bridges storytelling talent with financing to produce content that amplifies diverse voices across streaming services, theatrical releases, and emerging digital channels. | Memix is a virtual camera application for Windows that integrates effects and filters into video calls via Zoom, Teams, and OBS. Released in 2023, it overlays dynamic backgrounds, avatars, and AR elements in real-time without hardware changes. Popular among streamers and remote workers, the app supports custom green screen replacements and GPU acceleration for smooth performance. |
| HQ Country | | |
| HQ City | Los Angeles, CA | San Francisco, CA |
| Deal Date | 20 Nov 2021 | 23 Oct 2020 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all mmhmm acquisitions and their M&A valuation multiples. Start Free Trial | ||
mmhmm Competitors
mmhmm competitors include listed companies like Solvvy and Kubell, and private ones like Music Messenger, Axios HQ, Blink and Connectly.ai.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Glil Yam | Private | - | - | $100M | - | |
| Washington, DC | Private | $7M | - | $100M | 14.3x | |
 London | Private | $21M | - | $100M | 4.8x | |
| San Francisco, CA | Private | $7M | - | $100M | 14.3x | |
| Japan | Publicly listed | $43M | ($4M) | $100M | 1.9x | |
| Japan | Publicly listed | $61M | $7M | $99M | 1.3x |
mmhmm Public Comps
mmhmm is still privately-owned, but its public comps include Solvvy, Kubell, Eva Live, Sangoma, Xuan Wu Cloud, Netbay, Toku, Voicecomm International, RSUPPORT and Generic Sweden.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $43M | ($4M) | 2.2x | 1.9x | (21.9x) | - | |||
| $61M | $7M | 1.3x | 1.3x | 12.1x | 9.0x | |||
| $17M | $8M | 4.9x | - | 10.2x | - | |||
| $237M | $43M | 0.6x | 0.7x | 3.3x | 4.4x | |||
| $114M | ($4M) | 0.6x | - | (19.7x) | - | |||
| $22M | $11M | 3.0x | 3.3x | 5.9x | 7.5x | |||
| $35M | ($9M) | 1.9x | 1.7x | (7.5x) | - | |||
| $150M | $42M | 1.5x | - | 5.6x | - | |||
This data is available for Pro users. Sign up to see all mmhmm competitors and their valuation data. Start Free Trial | ||||||||
Common questions about mmhmm
| When was mmhmm founded? | mmhmm was founded in 2020. |
| Where is mmhmm headquartered? | mmhmm is headquartered in Bentonville, AR, United States. |
| Is mmhmm publicly listed? | No, mmhmm is a private, VC-backed company. |
| What is mmhmm's valuation? | mmhmm was last valued at $100M in its Series A in October 2020. |
| How much funding has mmhmm raised? | mmhmm has raised $135M across 3 funding rounds. |
| What was mmhmm's last funding round? | mmhmm's last funding round was a $100M Series B in July 2021, led by SoftBank Group. |
| Who are mmhmm's investors? | mmhmm's investors include Sequoia Capital, All Turtles, SoftBank Group, World Innovation Lab, Human Capital and Mubadala. |
| Which companies are comparable to mmhmm? | Companies comparable to mmhmm include Music Messenger, Axios HQ, Blink, Connectly.ai, Solvvy and Kubell. |
| How many companies has mmhmm acquired? | mmhmm has acquired 2 companies, including Macro and Memix. |
See companies similar to mmhmm
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