Live Media Platform Moment House Raises $12 Million – Los Angeles Business Journal

Moment House's Arjun Mehta, Shray Bansal and Nigel Egrari.

Moment House’s Arjun Mehta, Shray Bansal and Nigel Egrari.

Moment House Inc., a social media platform for live events, has closed a $12 million Series A round of funding, led by investments from Forerunner Ventures and a number of former artist, celebrity and influencer clients.

Founded in 2019 by Arjun Mehta, the company made the announcement Aug. 26. Investors include  UTA Ventures, singer-songwriter Halsey, comedian Whitney Cummings, Haitian-Canadian producer Kaytranada and his manager William Robillard-Cole, and actor and singer Tom Felton. Halsey and Kaytranada are among the performers who have previously used the platform for events and performances.

“We’re excited to welcome more top tech and entertainment leaders to Moment House as we continue empowering creators to deliver special live experiences to their worldwide communities digitally,” Mehta, who serves as chief executive, said.

“This fundraising round allows us to execute on our ambitious product roadmap,” Mehta added. “Everything we have done so far is just Step 1 of a much bigger plan to help build the metaverse.”

Launched out of the Jimmy Iovine and Andre “Dr. Dre” Young Academy for Innovation at USC, Moment House is a livestreaming platform that allows creators to host pay-per-view events. Some of these “live” events feature prerecorded elements, but the platform does not save recordings of the streams and may limit ticket quantity to build exclusivity.

Additionally, the platform includes features like smaller breakout chatrooms based on location or sub interest and “clubhouse”-like rooms where users can talk during streams. Creators can additionally sell merchandise during the streams.

Early investors included Jared Leto and a number of talent managers such as Scooter Braun, Post Malone’s co-manager Austin Rosen and Logic’s manager Chris Zarou. Tech industry leaders such as Matthew Ball, Google Ventures Chief Executive David Krane, former TikTok Chief Executive Kevin Mayer, Sequoia Partner Jess Lee, Box Chief Executive Aaron Levie, and Patreon Chief Executive Jack Conte also invested.

Moment House has previously hosted performances or events by Tame Impala, St. Vincent, Kygo, Kaytranada, Tiny Meat Gang podcast, Brockhampton, Wine & Crime podcast, Bryson Tiller, Grouplove, Yungblud, Luke Hemmings, Omar Apollo and Halsey, who commemorated the August 27 release of her new album “If I Can’t Have Love, I Want Power” with a full-length virtual concert that was broadcast only at three specific times over four days.

To date, Moment House said it has processed 1 million tickets across 168 countries and an additional 44 territories.

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