Slushy has raised $10.2 million for its platform designed to help creators grow their communities and form genuine connections with consumers. Unlike other platforms, Slushy focuses on adult entertainment.
Based in Miami, Slushy claims to be the first venture-backed adult content platform, attracting investment due to its unique approach that combines advanced technology with strong moderation, security, and compliance measures.
The funding round includes new and returning investments from prominent venture capitalists specializing in high-growth tech startups. Notable investors include Mantis VC (founded by The Chainsmokers), Electric Feel Ventures, Jon Oringer (former CEO of Shutterstock), and Sean Rad (co-founder and former CEO of Tinder).
The new investment also features high-profile angels like Edison Chen (founder and CEO of Clapper) and Brooklyn Johnny (music entrepreneur and manager to Cardi B).
CEO David Gross stated that creators need visibility and promotion, while consumers seek intimacy and connection. Slushy aims to merge top-notch commerce and social tools to help creators monetize their audiences and help users discover new content. The funds will support Slushy’s growth and development, following a successful year.
Founded in 2020 by David Gross and Fred Spivock, Slushy aims to empower and protect creators while offering a personalized user experience through sophisticated AI discovery tools. The new capital will help develop new features, onboard more creators, and expand into new markets, including South America.
Austin Rosen, general partner at Electric Feel Ventures, highlighted that adult content platforms have been risky for investors due to predatory business models and lack of user verification. Slushy’s sustainable payout structure and focus on compliance have made it the first venture-backed adult content platform.
Slushy reported significant growth in Q1 2024, reaching a million users and increasing its creator base by 40% to 10,000. This growth is attributed to the platform’s ability to support quality content from both established and new talent, providing creators with tools and insights to grow their audience and revenue.
Unlike most adult content platforms that cater to creators with large social media followings, Slushy’s integrated commerce and discovery tools allow creators without an existing online presence to gain followers and earn a sustainable income.
Slushy has partnered with AI-focused third-party apps like STXT and Party Hat AI to help creators produce fresh content and connect with their community. These tools enable creators to develop hyperrealistic avatars and communicate through AI-based chatbots, enhancing personalized interactions while focusing on high-quality content.
Through these partnerships, creators like Sierra Skye and adult film star Sophie Dee have engaged over a million users with targeted, machine learning-based outreach.
For consumers, Slushy introduced Perfect Match, a feature inspired by dating apps’ swiping interface. Users can swipe right on desired creators to influence the content they receive in their personalized feed. To date, Slushy has seen over 250,000 videos posted, covering both adult and non-adult content.
Alex Pall, general partner at Mantis VC, praised Slushy’s innovative technologies and exclusive content. The platform allows creators to be discovered without a significant social following, using a familiar interface with short-form, swipe-through content powered by machine learning.
Slushy has a legal framework with advanced compliance tools, including simplified consent, ID verification, and content moderation. The company aims to elevate creators at all levels, allowing both macro influencers and new entrants to find a following and earn money. Slushy’s tech stack, AI-powered algorithm, and short-form content format mirror popular social platforms like TikTok and Instagram, offering greater discoverability, cross-platform promotion, direct fan connection, and increased monetization.
This funding round is unique as Slushy is the first adult content company to receive venture capital funding. Traditionally, investors have been wary of the adult industry due to inherent risks. However, Slushy’s commitment to creating a compliant, ethical, and trusted platform has attracted leading VCs in technology and emerging industries.