Slushy, an OnlyFans Competitor Raises $10.2 Million in Funding

If you haven’t heard of Slushy, a competitor to Onlyfans, you aren’t alone. But that might be changing.

Miami-based adult content platform Slushy, backed by renowned DJ duo The Chainsmokers, has successfully secured $10.2 million in seed funding. This significant milestone, announced by CEO David Gross, underscores the growing investor interest in adult content platforms and their potential within the burgeoning creator economy.

Slushy, founded in 2020, has quickly positioned itself as a key player in the adult content industry. The platform allows creators to share both free and paid content, including explicit material. By the first quarter of 2024, Slushy had reached one million users and 10,000 creators, reflecting its rapid growth and popularity.

The recent seed funding round saw participation from a mix of new and returning investors, highlighting the platform’s strong appeal. Notable participants included The Chainsmokers’ Mantis VC, Electric Feel Ventures, former Shutterstock CEO Jon Oringer, and Tinder co-founder Sean Rad. High-profile angels such as Edison Chen, founder and CEO of Clapper, and six-time GRAMMY-winning music entrepreneur Brooklyn Johnny also invested in the round.

Florida has emerged as a significant hub for the adult content industry, second only to California. According to 2023 data from the Free Speech Coalition, the state is home to approximately 175,000 adult content creators. Slushy’s successful funding round underscores the growing recognition of the adult content industry and its potential for substantial growth and innovation.

Slushy sets itself apart from other platforms like OnlyFans through its sophisticated technology stack combined with robust moderation, security, and compliance measures. The platform offers creators tools to enhance discoverability and monetize their content effectively. New features include AI-driven discovery tools and integrations with third-party apps such as STXT and Party Hat AI, enabling creators to produce fresh content and engage with their audience through hyperrealistic avatars and AI-based chatbots.

“Creators need discoverability and promotion. Consumers need intimacy and connection,” said CEO David Gross. “We merge best-in-class commerce and social tools for creators to connect with and monetize their audiences directly while helping users discover their new favorite content. These funds will advance the growth and development of Slushy on the heels of year-over-year platform success.”

Austin Rosen, General Partner at Electric Feel Ventures, emphasized Slushy’s commitment to a sustainable payout structure and compliance focus. “From predatory business models for creators to a lack of guardrails and identity verification for users, adult content platforms have proven too risky to investors for the last decade. Slushy’s status as the first venture-backed content platform is a testament to the company’s sustainable payout structure for creators and emphasis on compliance and regulation. We are thrilled to recommit to the platform’s continued growth.”

The fresh capital infusion will support the development of new features, the onboarding of additional creators, and expansion into new markets, including South America. Slushy’s unique promise in the digital landscape is to empower and safeguard creators while providing a personalized user experience.

Slushy’s innovative approach and robust support for creators have carved a niche for the platform in the adult content industry. As it continues to grow and evolve, Slushy promises to redefine the landscape of adult content platforms, providing a safe, secure, and engaging environment for both creators and consumers. The successful seed funding round not only highlights the platform’s potential but also signals a broader acceptance and recognition of the adult content industry’s role within the creator economy.

You can follow Slushy on X at @SLUSHYdotcom