Total amount raised
$20.6 Millions
Latest funding date
12/1/2014
Location
Hinge has successfully raised funding through multiple rounds, with notable investors including Middleland Capital and CAA Ventures. The platform is designed to help users find meaningful relationships through its innovative dating app.
Keep reading to explore the intricacies of Hinge's fundraising journey and the investors backing this unique platform.
What Is Hinge?
Hinge, founded on February 1, 2011, is a social discovery network based in New York, New York. The platform aims to help users meet new people through its innovative dating app.
Founded by Bennett Richardson, Frances Haugen, Justin McLeod, and Matt O'Donnell, Hinge focuses on creating smart matches and facilitating natural conversations among users.
With a team of 11-50 employees, Hinge continues to grow and evolve, providing an alternative to swipe culture by fostering meaningful relationships.
How Much Funding Has Hinge Raised?
- Seed Round
- Amount Raised: $100K
- Date: March 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of the Hinge app and establish initial operations.
- Seed Round
- Amount Raised: $4M
- Date: November 2013
- Lead Investors: Great Oaks Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Hinge's reach beyond its initial markets and improve app features.
- Convertible Note
- Amount Raised: $4.5M
- Date: July 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and development efforts.
- Series A
- Amount Raised: $12M
- Date: December 2014
- Lead Investors: Shasta Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and enhance user experience.
Hinge has raised a total of $20.6M in funding. The current valuation is Not publicly disclosed.
Key Investors
- Great Oaks Venture Capital
- Details: Great Oaks Venture Capital is an early-stage investment firm based in New York. They focus on providing seed and early-stage funding to innovative startups.
- Investment Focus Areas: Technology, consumer products, healthcare.
- Notable Investments: Acorns, Allbirds, Trumid.
- Shasta Ventures
- Details: Shasta Ventures is a venture capital firm that invests in early-stage technology companies. They are known for their hands-on approach and support for entrepreneurs.
- Investment Focus Areas: Enterprise software, consumer technology, healthcare.
- Notable Investments: Anaplan, Nest, Nextdoor.
- The Social+Capital Partnership
- Details: The Social+Capital Partnership is a venture capital firm that focuses on technology and healthcare investments. They aim to solve big problems through innovative solutions.
- Investment Focus Areas: Technology, healthcare, education, financial services.
- Notable Investments: Slack, SurveyMonkey, Box.
- 500 Startups
- Details: 500 Startups is a global venture capital firm and startup accelerator. They have invested in thousands of companies worldwide.
- Investment Focus Areas: Early-stage startups, technology, consumer products.
- Notable Investments: Credit Karma, Canva, Udemy.
- Graph Ventures
- Details: Graph Ventures is an early-stage venture capital firm that invests in technology companies. They focus on supporting innovative startups with high growth potential.
- Investment Focus Areas: Technology, software, internet services.
- Notable Investments: Notion, AngelList, ClassDojo.
What's Next for Hinge?
Hinge is poised to capitalize on the growing demand for meaningful connections in the dating app market. With its unique "romance graph" and focus on serious relationships, the platform has a significant opportunity to expand into new cities and attract users seeking more than casual encounters. The dating app market is vast, and Hinge's user base has shown promising growth, doubling to 60,000 in key cities.
Future fundraising opportunities look bright if Hinge can maintain its growth trajectory and high user retention rates. Success in new markets could lead to additional investment rounds, fueling further expansion and app enhancements. However, Hinge will need to navigate challenges such as competing with established apps like Tinder and effectively communicating its unique value proposition to potential users.
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