iStock; Rebecca Zisser/BI
A new generation of consumer social startups is emerging.
From social networks focused on getting people to meet IRL to dating apps taking on Tinder or Hinge, startups are disrupting the digital social scene.
Founders of these startups are tackling problems like loneliness, dating app fatigue, and general dissatisfaction with the current social-media incumbents.
Meet the founders behind 18 new social startups
Some founders come from Big Tech backgrounds, like the Instagram-heavy team behind photo-sharing app Retro, or the ex-Google employees building the social-mapping app PamPam. Meanwhile, Gen Z founders are also throwing their hats in the ring, like Isabella Epstein’s IRL-focused app Kndrd or Tiffany “TZ” Zhong’s Noplace app.
For instance, the IRL-social app 222, which matches strangers over dinner or activities with a personality quiz, raised a $2.5 million seed round from venture capital firms like 1517 Fund, General Catalyst, and Best Nights VC in 2024.
Then there’s Series, a professional networking AI chatbot for college students, which announced a $3.1 million pre-seed in April.
“We’re entering this new wave of social where people are trying to revert back to what people really use these platforms for to begin with — which is connection,” Maitree Mervana Parekh, a principal at Acrew Capital, told Business Insider last year.
Some funds — like French firm Intuition VC — have made tackling loneliness part of their investment theses.
Dating apps are also “very disruptable in this moment,” Daybreak Ventures founder Rex Woodbury told Business Insider.
Meet the founders of 11 startups competing with dating app giants like Tinder
Other startups, like Diem and Spill, have opened up investment rounds to include users themselves using the platform Wefunder.
It’s not yet clear how many of these investments will pan out. Some startups are pre-revenue, while others are experimenting with monetization methods (such as freemium models).
“Founders have to be honest with themselves,” said Marlon Nichols, a founding partner at Mac Venture Capital. “Some of them aren’t really venture-scale or venture-type investments. We’re looking for the next big thing, the next category leader.”
Meet 12 VCs and investors eyeing new social startups
BI spoke with several social-media and dating app founders about how they are raising capital — including the pitch decks they used to raise millions of dollars.
Read the pitch decks that helped 9 social-networking and dating startups raise millions of dollars:
Note: Pitch decks are sorted by investment stage and size of round.
Series A
- Posh, an event-based social network based in New York City: $22 million Series A (12 pages)
- Spoon Radio, a social-audio startup: $17 million Series A (15 pages)
- Pie, an IRL social startup founded by Bonobos’ Andy Dunn: $11.5 million Series A (31 pages)
- Howbout, a social-calendar app to help people make plans with friends: $8 million (12 pages)
Seed
- Hangout, a social music platform: $8.2 million Seed (26 pages)
- First Round’s On Me, a dating app that prioritizes making plans over swiping and DMs: $3 million seed (16 pages)
- Seam Social, a Web3-inspired social network that lets users make mini-apps: $2.5 million (10 pages)
Pre-Seed
Other
The post Read the pitch decks of 9 startups looking to disrupt dating apps and social networking that have raised millions appeared first on Business Insider.
