Retro raises over $21M as friend-focused social apps gain investor attention

Retro, a friend-focused photo-sharing app, has raised more than $21 million in Series A funding, according to an SEC filing. The app was built by former Instagram product engineers Nathan Sharp and Ryan Olson. TechCrunch reports that Business Insider first spotted the filing, which appears under the startup’s name, Lone Palm Labs.

The filing was dated August 19 and indicates the funding closed in December. PitchBook now estimates the startup is valued at over $100 million, while Retro did not respond to TechCrunch’s request for comment.

Retro’s pitch centers on sharing photos with friends rather than building feeds around personalized algorithms, creator content, or AI-generated material. Sharp told TechCrunch in December that people will still want to see more of their friends and that photos and videos need a place where they can reach their intended audience.

That positioning gives Retro a clear lane: private, relationship-first sharing for users who want a smaller social experience. The funding suggests investors still see demand for social apps built around direct connection.

Retro launched in 2023 as a personal photo journal and has since expanded its feature set. Users can privately share photos from their week with friends, create shared albums, view and share recaps, and use a “rewind” feature to revisit photo memories.

The app’s product direction is straightforward: make photo sharing feel more intentional and less public. For readers evaluating social apps, the key distinction is that Retro is designed around close-friend sharing rather than broad discovery.

Retro does not monetize through advertising, according to TechCrunch. Instead, it offers in-app subscriptions that include support for video, GIF and sticker comments, more styles, unlimited history, and special app icons.

Appfigures data cited by TechCrunch says Retro has been downloaded around 7 million times since launch, with in-app spending up north of 460% over the past 180 days. The company’s backers include Thrive Capital, Figma CEO Dylan Field, Scribble Ventures, Box Group, Imaginary Ventures, Coalition, Conviction, Copper, Positive Sum, and various angels.