London-based Peanut, an app which seeks to connect new mums based on common interests, has raised a Seed round co-led by Sweet Capital Investment and Female Founders Fund.
Peanut also received cash from Greycroft and Sound Ventures, the venture capital firm founded by Hollywood A-lister Ashton Kutcher.
Details of the raise are not being disclosed, but the company says it will use the funds to grow its team and expand its community of users.
Launched in February and co-founded by Michelle Kennedy, CEO and a former board advisor at female-focused dating app Bumble; and Greg Orlowski, Deliveroo’s former CTO, Peanut uses a proprietary algorithm and machine learning to connect like-minded women in a bid to create meaningful connections.
“Raising this Seed round represents an exciting moment for Peanut. We have established that women want to connect with like-minded women on the topic of motherhood. Women deserved a product reflective of modern motherhood, and we’re so happy that Peanut can provide that.
“Receiving backing from such stellar investors is testament to the progress Peanut has made in such a short period of time, and we’re so excited to start the next chapter of Peanut,” said Kennedy.
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Christian Dörffer, co-founder of Sweet Capital, added: ‘We are thrilled about our investment in the Peanut app and to partner with Michelle Kennedy and her impressive team. Through our Candy Crush experience, we know that women love to support other women on smartphones all over the world. Mothers are especially helpful when it comes to supporting each other through the early childhood years and as the Peanut team rolls out its full product roadmap, we believe it could become the primary way to socialise and learn about important topics.’
Anu Duggal, partner at Female Founders Fund, said her firm was thrilled to co-lead the round.
“Six months post launch, Peanut has developed a strong following amongst moms globally with a vision to redefine the modern motherhood experience,” Duggal concluded.
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