Xip Secures $5 Million in Seed Funding and Announces $1 Million Creator Fund The $1 million Creator Fund will help popular knowledge creators build successful online businesses
San Fransisco, CA
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June 15, 2022 01:27 PM Eastern Daylight Time
Xip announced today it has secured $5 million in seed funding and launched a $1 million Creator Fund to support knowledge creators who produce educational, tutorial, or coaching content. As the first platform to bring the personalized video format popularized by Cameo to the online learning space, Xip connects learners with experts they know and love, who offer them personalized feedback through asynchronous videos.
Jomayra Herrera from top education VC Reach Capital led the funding round with participation from LinkedIn Executive Chairman and Founding Partner of Next Play Ventures Jeff Weiner; Chief Operating Officer of MasterClass and angel investor Mark Williamson; Benjamin Grubbs from Next 10 Ventures; and Bertelsmann Digital Media Investments (BDMI), among other compelling venture capitalists, startup founders, and operators.
“We are thrilled to partner with the Xip team. We know the best type of learning is personalized, actionable, and in the moment,” said Jomayra Herrera from Reach Capital. “Xip enables exactly that by rethinking how consumers can learn from creators. It’s a moment of delight for learners and a great way to generate sustainable income for creators.”
Xip connects users with popular knowledge creators on YouTube, TikTok, Twitch, and Instagram, who frequently receive direct messages from fans asking for one-on-one help. Current Xip creators include notable coaches, professional athletes, musicians, and photographers.
“For decades, one-on-one help has been shown to produce significantly better learning outcomes than one-size-fits-all instruction. Yet most of the advancement in the online learning space is of the one-size-fits-all variety,” said Xip Co-founder & CEO Chris Taylor. “Widespread access to high-quality content is great, but the options for personalized help are still lacking. Xip makes one-on-one instruction easily accessible to improve the way we all learn.”
On average, creators earn four times higher hourly rates compared to synchronous Zoom lessons. Xip users find the platform incredibly helpful and give it five-star reviews 97% of the time.
The Xip Creator Fund is designed to help creators kickstart their success as online instructors. Participating creators receive income guarantees, marketing support, equipment, waived setup fees, and additional resources to start earning meaningful income from helping their fans.
“Starting an online coaching or instruction business is resource-intensive, and we want to help by investing in our creators,” Taylor said. “If you’re a creator who has dreamed of starting an online education business, we’re here to help you bring that dream to life.”
In addition to the Creator Fund, Xip will use its seed round to invest in the team and product. Xip Co-founder & CTO Eddie Siegel said, "I'm looking forward to using this funding to grow our exceptional engineering team. We have a very exciting future ahead of us as we continue to invest in building the world-class tools that creators need to bring 1-1 learning to the masses!" For more information, visit www.xip.co.
About Xip
Xip delivers a personalized learning experience that changes the way people learn online. As the first platform to bring the customized video format popularized by Cameo to the online learning space, Xip connects learners with experts they know and trust, who offer them personalized feedback through asynchronous videos. Xip is devoted to true learning and improvement and enables tutorial creators to earn meaningful income by providing their fans with one-on-one help that scales. Visit Xip.co to learn more.
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