# Spell

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/spell

- Industry: Software
- Headquarters: New York, US
- Website: www.spell.ml
- Total disclosed funding: $15M
- Latest round: Series A (Jan 17, 2019)
- Investors on record: 3

## About

Spell, Inc. is a specialized platform focused on the sale and leasing of premium domain names, providing secure and efficient transaction services to individuals and businesses looking to enhance their online presence.Founded in 2017, Spell, Inc. is headquartered in New York, US. The company specializes in the domain name industry, offering unique online identities to its clients. Founders Elisabeth Kyriakopoulou and Trey Lawrence previously worked in tech entrepreneurship, contributing to their expertise in this field. In June 2022, Spell, Inc. was acquired by Reddit, Inc., a significant move in its growth trajectory. The company has successfully completed a Series A funding round, raising a total of USD 15.00 mn, with participation from Blossom Capital, Eclipse Ventures, and Two Sigma Ventures.Spell, Inc. specializes in the sale and leasing of domain names, focusing on a seamless and secure transaction process for clients. Its core offerings include high-value domains like spell.ml, targeting entrepreneurs and businesses that seek a distinctive online identity. The platform facilitates both outright purchases and negotiation offers, ensuring flexibility for users. It aims to cater to a global audience, providing user-friendly features and reliable customer support throughout the domain acquisition process.Spell, Inc.'s revenue model is predominantly transaction-based, deriving income from sales and leases of premium domain names. The platform allows buyers to either pay a fixed price or submit offers for negotiation. A typical transaction involves a listed price, such as USD 9,788 for the domain spell.ml, processed securely to ensure protection for both buyers and sellers. The company also explores additional revenue through transaction support and possible recurring fees from leasing agreements, broadening its market reach.Looking ahead, Spell, Inc. plans to innovate with new products aimed at enhancing user experience in domain transactions. The company is also targeting expansion into new geographic regions, specifically focusing on emerging digital markets by the end of 2023. The funding from the Series A round will be utilized to support product development and market expansion strategies, facilitating a structured approach to growth following its acquisition by Reddit, Inc. in June 2022.

## Funding rounds

- Series A, Jan 17, 2019, $15M — Two Sigma Investments, Eclipse Ventures, Blossom

## Investors

- Two Sigma Investments (https://capitalatlas.ai/funds/two-sigma-investments) — Series A
- Eclipse Ventures (https://capitalatlas.ai/funds/eclipse-ventures) — Series A
- Blossom (https://capitalatlas.ai/funds/blossom) — Series A