Case Study
Luminary Media
Startup Innovation & Investment Fundraising
Initial market discovery for subscription-based podcast and product valuation for seed and Series A raise to product execution.
Strategic Fundraising Packaging and Rapid Design Prototyping
4.2M Seed and 100M Series A Raise
THE STORY
The BoCGV team evaluated the subscription market, core feature set, and funding needed to be a successful market entrant. After developing the pitch, prototypes, and supporting the capital raise - we went on to develop the engineering team and maintain infrastructure.
Luminary Media, LLC operates as a media company. The Company provides podcast applications that contain various digital audio files. Luminary Media serves customers worldwide.
THE GOALS
- The goal for the Client was to establish a footing in a market that has a very specific cost structure and marketing model. In order to do this, a business model innovation was needed in the initial investment narrative as well as in the product roadmap.
- The Client was seeking product, engineering, architecture, and infrastructure development that would support a content-acquisition and talent payment model.
- The Client engaged with us at seed funding throughout their Series A capital raise to support the paid-subscription business model.
THE SOLUTION
In the early phases, much of our efforts went into ethnographic design research on a great product experience. This included featurization, market analysis, and competitor research. All of this data went into the investment pitch deck used for seed and Series A development, totalling over $100M in its Series A capital fund raise.
After funding, the product featurization was put into development for a minimal viable product to commercialize. This included mobilizing web, desktop, and mobile product-engineering teams to design from architecture to user experience. Our team not only supported initial MVP development to launch but went on to sustain infrastructure for Luminary as its content strategy was put in place. The infrastructure was leveraged for strategic content acquisition and talent on-boarding. After more than three years, Luminary has successfully become a subscription-based player, a key content house, and is actively positioned for sale by enterprise players.
THE RESULTS
- Developed fundraising material for $4.2M in seed and $100M Series A raise
- Launched company product and built engineering team to over 30 engineers
- Maintained infrastructure for over three years into sustaining growth
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