Lapse, the app transforming your phone into an old-school camera, secures $30M in funding

Lapse offers a nostalgic experience reminiscent of using analogue cameras, where users take photos with their smartphones and have to wait for them to “develop” before sharing with friends, without the option to edit or retake. Despite the simplicity of the concept, Lapse has gained significant traction, boasting millions of users and capturing 100 million photos each month. It consistently ranks among the top 10 photographic apps in the U.S. app store.

To fuel its growth and expand its ambitions, Lapse has secured $30 million in a new funding round. Greylock, a renowned investor in consumer apps with a track record that includes Facebook, Instagram, and TikTok, co-led the round alongside DST Global Partners. Previous investors GV, Octopus Ventures, and Speedinvest also participated. With this funding, Lapse’s total raised capital reaches over $42 million, valuing the company at approximately $150 million.

Lapse’s roadmap includes enhancing the “unedited” photo experience with more features and eventually venturing into video content. While the company may explore monetization opportunities in the future, CEO and co-founder Dan Silvertown emphasizes a departure from conventional advertising-driven models. Instead, Lapse aims to maintain its authentic user experience while exploring alternative revenue streams.

Although Lapse’s ethos evokes nostalgia, its operational mechanics leverage modern technology to deliver a unique and engaging user experience.

Indeed, Lapse’s origins are deeply rooted in the desire to recreate the simplicity and freedom of using a point-and-shoot camera without the distractions of social media validation. Ben Silvertown’s experience while traveling in Asia highlighted the disconnect between living in the moment and constantly seeking validation through likes and shares on social media platforms. This realization inspired Ben and Dan to reimagine the analogue experience for the digital age, leading to the creation of Lapse.

While Lapse maintains the essence of analogue photography by prohibiting photo editing and retakes, it incorporates modern technology to enhance the user experience. Behind the scenes, the app employs various techniques to optimize and treat the “unedited” photos, ensuring they meet quality standards and provide an authentic representation of the captured moments. These technological nuances blend seamlessly with the app’s nostalgic appeal, offering users a unique and refreshing approach to digital photography.