GumGum, a Santa Monica-based content delivery firm, received USD500,000 of the USD1.2m it plans to raise in first-round funding. Investors include First Round Capital, which will gain a seat on GumGum’s board.
The GumGum service acts as a kind of broker between photographers and clients that want to license images. Artists and photographers upload their images and other content to the GumGum service. Clients identify images they want to license and GumGum manages the distribution and payments. GumGum includes a unique identifier in each image to track usage and views to determine the licensing fee.
GumGum competes with established stock photo houses including Getty Images, Fotosearch, Moodboard and start-up, Attributor.