Retro, a friend-focused photo-sharing app built by former Instagram product engineers, has raised more than $21 million in Series A funding, according to an SEC filing first spotted by Business Insider. The filing is dated August 19, 2026, though the funding itself closed in December. Pitchbook now estimates the startup’s valuation at over $100 million.
The app was built by Nathan Sharp and Ryan Olson, and operates under the parent company name Lone Palm Labs. Retro did not immediately respond to a request for comment.
Launched in 2023 as a personal photo journal, Retro has since added features that let users privately share weekly photos with friends, create shared albums, view recaps, and revisit past photo memories through a “rewind” function. The app has been downloaded approximately 7 million times since launch, and in-app spending has grown more than 460% over the past 180 days, according to app intelligence provider Appfigures.
Rather than relying on advertising, Retro generates revenue through in-app subscriptions that unlock features including video, GIF and sticker comments, additional styles, unlimited history, and custom app icons.
Sharp has pointed to the dominance of algorithm-driven, creator-focused feeds as the context for Retro’s approach. “Something that has to be true and will be true is that people will still want to see more of their friends,” he told TechCrunch in December. “The photos and videos you take will need to find a place where they can reach the intended audience.”
Investors in the round include Thrive Capital, Figma CEO Dylan Field, Scribble Ventures, Box Group, Imaginary Ventures, Coalition, Conviction, Copper, Positive Sum, and various angels. The funding may signal continued investor appetite for social apps that prioritize direct connections between users over algorithmically curated content.
Source: TechCrunch