Creating the Google Search + Google Maps for Money.
If you search for “Top things people worry about” or “Top things that make people anxious”, the topic of Money or Finance always ranks among the top 3 results. Often when we want information or direction on a specific topic we can do a simple search and find resources a tap away. However, this is not necessarily the case when it comes to a very personal and emotional topic such as your money.
How powerful would it be if we, as individuals, could have access and insight into our finances at our fingertips? This is the big vision that got us excited about Meemo, an AI-powered social finance app. We are excited to announce Sierra Ventures’ investment in Meemo’s $10M financing.
Meemo is a combination of a personal financial monitoring, rewards and gifting, and social shopping app, all merged into one. The app provides users with personalized insights into their spending activity and habits so consumers can make more informed financial decisions. The app curates AI-generated rewards for users to redeem at the places they like to shop and also has the functionality for users to treat friends and family members with gifts to pre-selected shops, restaurants, and experiences.
To implement this bold vision, we knew the team had to be world-class. We are lucky to partner with Wisam Dakka and Andre Madeira, co-founders of Meemo, who are uniquely qualified to build and run the company. Wisam and Andre both lead products at SNAP and were part of the early team that built Google Search.
We partnered with our friends at Saama Capital and Amit Singhal on the investment and are looking forward to working with them as well.
Venture Capital is all about reimagining the future and pursuing the impossible. We look forward to the journey ahead with Wisam and Andre to reimagine the relationship individuals have with their money.
Tim is a former serial entrepreneur, having built two successful software infrastructure companies: Scopus Technology (IPO in 1995) and Octane Software (M&A – Epiphany $3.2 billion). He joined Sierra Ventures as Managing Director in 2002 and focuses on Big Data and Artificial Intelligence. Since joining, he has taken two companies public (Sourcefire – FIRE and MakeMyTrip – MMYT), and has been responsible for several M&As. Tim holds a BA in Electrical Engineering from PEC University of Technology (India) and an MS in IEOR/Robotics from Virginia Tech. His passion (outside of his family and companies) is soccer.