Early Stage

Making immersive technology accessible & results-driven


Raised to Date: Raised: $185,394

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Erie, Pennsylvania

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Arlene, with a valuation cap of $6 million, is raising crowdfunding on Republic. The company offers a full suite of self-service tools and managed services that make immersive technology, including 3D, AR, and 360 experiences, more accessible and results-driven. The platform provides experiences that integrate with advertising, analytics, and engagement measurement. Colin Jacobsen, Bob Reisenweber, and Hermes Frangoudis founded Arlene in 2017. The proceeds of the current crowdfunding round, with a minimum target of $25,000 and a maximum target of $500,000, will be used to continue the development of the tools, establish the company, and grow partnerships with top brands. Arlene’s launch partners include The Sill, Coach, Revo, and Flowcode and achieved an MRR of $10,000 entering 2021.

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Financials as of: 04/06/2021
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Since its release in 2016, Pokémon Go has proven to be tremendously successful. The mobile game allows users to play wherever they go, using its augmented reality (AR) features to create the illusion of catching pokémon in real life. 

While the game may be fairly new, immersive technologies like AR and virtual reality (VR) have actually been in development for decades. And though immersive reality is primarily associated with the video game industry, it has also proven useful in many others, including healthcare, education and business. Unfortunately, immersive reality’s potential is hindered by its complexity and high cost.

Arlene is a company with a solution. Arlene offers a platform to create three-dimensional 3D and AR imaging simply and easily. Gone are the days of static imagery being used to market a product. With Arlene’s platform, clients can create 3D models for their products with no coding required. And the company’s industry – immersive media – is  growing rapidly. 

Arlene’s current Republic raise has been given a Neutral rating from the Kingscrowd investment team.


Arlene is currently raising at a $6 million valuation with a 20% discount and is offering a SAFE equity. While the company has only managed to amass a monthly revenue of $10K in three years, the reasonable valuation and discount are favorable for investors. 


Immersive technology is increasingly common. Arlene operates under the umbrella of immersive marketing, which utilizes a fully 3D experience for consumers. The immersive media market is projected to grow to $179 billion by 2022.

However, companies like Threedium, Expivi, Emersya, and Sketchfab already offer similar platforms that produce 3D images and expand e-commerce capabilities. Arlene’s product doesn’t seem to differentiate itself from those. However, one advantage Arlene does have is its location. Threedium is a UK company, and Emersya is based in France. These are two of the biggest, most established competitors vying for separate markets. Arlene operates in the US, which is projected to account for one-third of immersive media spending by 2022. This gives Arlene more access to the available market.

Due to the industry’s expected growth and Arlene’s favorable location, it has been given a strong market rating.


Arlene has three listed co-founders: CTO Hermes Frangoudis, COO Robert Reisenweber, and CEO Colin Jacobsen. Hermes Frangoudis worked at Blippar as an AR solutions engineer for three-and-a-half years, giving him solid experience working with immersive technology. He currently has a full-time job at Agora alongside his responsibilities at Arlene.  

Reisenweber began his professional career working as a mergers and acquisitions investment banker at UBS. He subsequently worked for nearly a decade in and around startups as a founder and investor, founding a fantasy sports app called Betiply in 2015. 

CEO Colin Jacobsen worked at MoPub in 2013 with the client services team. After Twitter acquired MoPub, Jacobsen worked at Twitter for more than four-and-a-half years. Jacobsen is also working as a co-founder of Positrips, which is based in Lima, Peru.  

Two of the key team members are actively working at other companies, which will heavily limit the amount of time these individuals will have to focus on Arlene. While the founders may have solid experience, their questionable dedication to the company may be worrisome for potential investors.


Arlene offers services that are strikingly similar to many of its competitors’. For example, Threedium’s Investment Deck from 2018 outlines a product nearly identical to Arlene’s. However, there is one area where Arlene hopes to draw interest. Arlene describes its product as “no/low code,” meaning the user needs no prior computer science knowledge to use the company’s product. This accessibility could drive less tech-savvy users to opt for Arlene’s product over competing products.

Overall, Arlene’s product struggles to strongly differentiate itself from the competition, making this score the lowest given by the Kingscrowd investment team.


Arlene has been operating since 2018 and has very little to show for it. The company is very much in a pre-profit stage of operation, generating only $23,240 in revenue for the entirety of 2020. Still, this was admittedly an increase from its 2019 revenue of $17,825.

Arlene’s Form C filing indicates that, as of March 31, 2021, it has $24,419 in cash on hand, giving the company nine months of runway. The lack of revenue presents a huge problem for the company’s future prospects. Arlene has managed to raise $375K from venture capitalists (VC) and angel investors, though, which could foreshadow possible future funding.


Overall, Arlene’s risk score is relatively low. However, there are some problem areas. First, the defensibility of the company’s product is highly suspect. Unable to differentiate itself in any meaningful way, Arlene’s product may very well struggle on the open market.

The team is also a potential problem. With two members of the founding team actively working for other companies outside Arlene, their focus is highly questionable. Running a startup takes energy and focus, and if two-thirds of the core team aren’t providing their full attention to the project, that limits the company’s potential.

Bearish Outlook

In a growing industry with both established and new competitors, Arlene’s inability to adequately differentiate its product could be fatal. With very little early traction and only nine months of runway, the company will need more funding from VCs to stay afloat. Adding to the possible catalysts for failure, two of the three core team members work for other companies outside of Arlene. Investors should be wary that the founding members of the team aren’t wholly focused on Arlene.

Bullish Outlook

Immersive media and marketing are rapidly expanding markets. Though there are competitors with similar product lines, the market should be big enough for multiple adopters. Integrating VR and AR into e-commerce seems likely to be the next big improvement in the space, so Arlene could potentially play a pivotal role in changing the way e-commerce is conducted. The executive team members, while possibly distracted, have solid experience and educational backgrounds. The market’s expansion is the best hope for Arlene’s success. Given the huge projections for immersive marketing and immersive media, that may come to fruition.

Executive Summary

The good news for Arlene is that its market is set to expand rapidly in the coming years, which will open up more opportunities for the young company. It also has an advantage in operating in the US, which accounts for 33% of the industry’s spending. However, the company’s early traction has been lackluster and the core team isn’t fully focused on the company. Arlene’s product is going up against very similar products from established competitors. Arlene certainly has an uphill battle ahead if it is to one day reward early investors. Therefore, Arlene has been given a Neutral Rating.

For questions regarding the KingsCrowd staff pick or ratings for this company, please reach out to

Analysis written by Ethan Thomas.

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Arlene on Republic
Platform: Republic
Security Type: SAFE
Valuation: $6,000,000

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