Social App Maker Lone Palm Labs Raises $21 Million in Venture Funding

Industry Pulse News Desk · 2026-08-27

Lone Palm Labs has secured $21 million in capital to expand its friend-focused photo-sharing app Retro and broader consumer tech portfolio.

Lone Palm Labs, the developer behind the private social sharing platform Retro, has raised at least $21 million in venture capital funding, according to recent regulatory filings. The funding round arrives as capital investment in consumer-focused social platforms remains selective following years of fluctuating deal volume.

Founded in 2022 by former Instagram employees Nathan Sharp and Ryan Olson, Lone Palm Labs operates out of New York and San Francisco with a seven-person staff. The team launched Retro in 2023 as an ad-free photo and video journal designed primarily for close friends and family members rather than public followings.

The startup's roster of investors includes venture firms Thrive Capital, Scribble Ventures, Imaginary Ventures, and Uncommon Projects. Figma chief executive officer Dylan Field also participated in the funding as an angel investor.

Retro utilizes a freemium monetization model, charging approximately $36 annually for a premium subscription that unlocks features such as video uploads and expanded feed viewing. Market intelligence estimates place the platform's audience at approximately 1.7 million monthly active users and 7.8 million global downloads, with notable adoption in international markets including Japan, Taiwan, Germany, and Spain.

In addition to its flagship photo application, Lone Palm Labs expanded its software portfolio in 2025 with the launch of Splat, an artificial intelligence tool that transforms personal photographs into digital coloring pages for children.