Category: All Investment Raises

Queer Social App Lex Gets a New CEO and $5.6M to Grow

Posted on October 3, 2023

Lex logoTECH CRUNCH – Lex, an app inspired by vintage lesbian personals, has secured $5.6M in seed funding. The app's co-founder, Jennifer Lewis, has been promoted from COO to CEO, while the founding CEO, Kel Rakowski, becomes the chief creative officer. Michelle Parsons, previously from Hinge, has been appointed as the chief product officer. The app is popular among the LGBTQIA+ community in major cities like New York and LA, offering a platform for various social interactions beyond just dating. Recently, the app underwent a redesign emphasizing community over just hookups. The new funds will be used for expansion. Their monetization strategy will differ significantly from major platforms like Facebook or TikTok, emphasizing in-person meet-ups over prolonged app usage.

by Harri Weber
See full article at Tech Crunch

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IRL Dating App, MM Raised £600K/$750K

Posted on September 11, 2023

MM logoTECH ROUND – MM, a dating app blending tech with real-life experiences, has secured £600K in seed funding. The app allows users to connect in real life at local venues, curates events, and partners with organizers to facilitate in-person encounters. The app caters to diverse communities, particularly focusing on cultural nuances within African, Caribbean, and African-American demographics. The funding will support team expansion, app enhancements, and marketing efforts in key cities.

See full article at Tech Round

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Virginia Venture Partners Funds CarpeDM, a Dating App for Professional Black Women

Posted on August 30, 2023

Carpedm logoEIN NEWSDESK – Virginia Venture Partners has invested again in CarpeDM, a D.C.-based dating app specifically designed for professional Black women. The app combines personal matchmakers with algorithms to create matches. Members undergo background checks and interviews for vetting. The purpose of this investment is to support CarpeDM's expansion.

See full article at Ein Newsdesk

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Datefit Secures $9M for Annual Marketing Spend

Posted on July 19, 2023

Datefit logoPRESS RELEASE – Cleveland-based dating app, Datefit, which emphasizes fitness, has successfully secured $9M in funding for its annual marketing efforts. This significant investment aims to facilitate Datefit's market growth and presence. The company, founded by Cleveland entrepreneur Steven Macecevic, has faced challenges scaling its marketing efforts due to delays in sales revenue from Apple/iTunes payouts. However, the new funding will help Datefit overcome these hurdles. In 2022, the app welcomed ~300K new users, and it aims to double this number in 2023. With this newfound funding, Datefit hopes to continue its growth trajectory in the fitness-dating app space.

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Dating App Djungo Raises $1.6M, Prepares for Swedish Launch Following Brazil Success

Posted on July 18, 2023

Djungo logoBREAKIT.SE – Swedish startup Djungo, designed to combat loneliness with curated groups in an AI-moderated app, plans to launch in Sweden following success in Brazil. The company raised 15M SEK (~$1.6M) for the Swedish launch after attracting ~100K users in São Paulo. Founder Jakob Lundström believes "social discovery" apps like Djungo will gain more popularity than traditional dating apps, offering a solution for different demographics, from Gen Z to seniors.

by Emil Widhagen
See full article at Breakit.se

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Times Group Invests in Dating App Flutrr

Posted on June 16, 2023

Flutrr iconLINKEDIN – Indian dating app, flutrr, has announced a major investment from Bennett Coleman and Co. Ltd. (Times Group), one of the country's most influential media organizations. Flutrr offers language support in English, Hindi, Bengali, and soon, eight more Indian languages. The app prioritizes user safety with its proprietary selfie verification technology and stringent safety protocols. The app offers a premium experience at affordable pay-per-use rates, with additional experience boosters available at minimal costs. The app also incorporates a matching algorithm based on user passions, Numerology and Astrology. With this investment, flutrr plans to expand its offerings, ensuring a safer, accessible, and affordable online dating experience.

See full article at LinkedIn

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Indian Dating App Meet7 Raises $300K Seed Round

Posted on May 29, 2023

Meet7 logoB2B CONNECT – Indian dating platform Meet7 has secured $300K in a seed funding round. Meet7 aims to address the challenges faced by Indian users, such as fake profiles and cyberbullying, by implementing rigorous verification processes and eliminating the swipe-based matching system. The app, developed by graduates from prestigious Indian institutes IIT and IIM, emphasizes genuine interactions and user safety. With 60K users already on the platform, Meet7 plans to expand its user base to 1M within the next year.

See full article at B2B Connect

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AI Relationship Coaching App Amorai Raises Pre-Seed Funding, Tinder’s Ex-CEO at the Helm

Posted on May 2, 2023

Amorai logoFINSMES – Amorai, an AI relationship coaching app designed for young adults aged 18-30, has raised an undisclosed amount in pre-seed funding. Led by former Tinder CEO Renate Nyborg, the app offers personalized coaching exercises tailored for Gen Z. Amorai is based on large language model technology and features a subscription business model, ensuring privacy and security. With the new funds, the company aims to expand its operations and reach. The app will launch exclusively on iOS, utilizing Apple's native health features and privacy standards.

See full article at Finsmes

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Indian Matchmaking Platform Betterhalf Raises $8.5M

Posted on March 3, 2023

BetterhalfaiBUSINESS TODAY – Homegrown matrimony app Betterhalf (earlier known a Betterhalf.ai) has raised $8.5M in a Series A round led by FinSight Ventures (which had earlier invested in Bumble), Instagram Co-founder Mike Krieger, Dropbox Co-founder Arash Ferdowsi, and other marquee investors. Founded in 2017, Betterhalf claims to have grown its revenues 2x in six months and has hit $2.5M in annual revenue with 1M MAU. Before this, in May 2021, Betterhalf had raised $3M in a Pre-Series A round led by Y Combinator, S2 Capital, Quiet Capital, and angel investors like Kunal Shah (CRED Founder).

by Sohini Mitter
See full article at Business Today

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Single Parent Dating App Playdate Raises £250k

Posted on February 24, 2023

PlaydateUKTN – Playdate, a UK-based dating app for single parents, has raised £250K in its first external funding round after bootstrapping the business since its launch in 2021. Research from the company found that there are as many as 2.9M single parents in the UK, suggesting a potentially significant market for the app. The investment round came from the VC firm Ankh Impact Ventures, along with a series of angel investors.

by Oscar Hornstein
See full article at UKTN

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