Espresso Meets Bagel scored a $12 million Sequence B this week. The spherical, led by U.Ok. VC agency Atami Capital, brings the favored relationship app’s complete as much as slightly below $20 million since launching again in 2012.
The San Francisco-based relationship app has labored to tell apart itself from rivals like Bumble and Tinder by limiting the variety of matches it gives throughout a 24-hour window. Late final yr, it expanded its offering with a video feature, so as to add an additional dimension to profiles. This month, it launched extra CMB Experiences to carry customers collectively in the actual world.
In fact, Espresso Meets Bagel is battling a juggernaut within the type of the billion-dollar Match Group, which at the moment owns OkCupid, Tinder, PlentyofFish and Match, amongst others. In line with the corporate, this newest spherical will drive investments into extra CMB Experiences together with worldwide growth for the service, together with different “product innovation.”
Co-CEO Arum Kang additionally notes that the Sequence B brings quite a lot of VC corporations with “outstanding feminine buyers,” together with Gingerbread Capital. “We’re excited for the following part of Espresso Meets Bagel, and are happy to have some great worldwide and feminine buyers on board,” Kang says in a launch tied to the information. “Given our give attention to feminine expertise, it was essential that now we have a feminine perspective on the investor stage.”