Today we closed on a Series A financing for FREEjit, Sean Ellis’ new company.
While in stealth, we can say that FREEjit will address the exploding opportunity created by freemium and trial offers for consumers, prosumers, internet services, content providers and next-generation software companies alike.
Sean is widely-known as one of the thought leaders of the freemium model, as his many & ravenous blog and Twitter (@seanellis) followers can attest. He’s built the user aggregation engines which have supported the rapid rise of category leaders like LogMeIn (NASDAQ: LOGM; a Polaris company where I sit on the BoD and where I first met Sean in 2005) — and 14 others like Uproar, Xobni, DropBox, Eventbrite, Grockit & Lookout. He’s one of the smartest guys on the planet in the ways of “new world order” of web marketing & sales. And he deeply understands disruptive demand generation & the marginal user economics created by free services.
For FREEjit, he’s surrounded himself with a team, advisors and investor partners who have both experience and passion around all things freemium.
As an investor, it’s great to explore a multi-$B market addressing an opportunity area that’s a front-line business imperative. It’s even better to do so in an area validated by first-hand experience and support of market leaders. And it’s a super thing to work again with a successful, repeat entrepreneur perfectly suited to lead his new enterprise.
Congratulations to Sean and his team. It should be fun :).