Coffee Meets Bagel Grabs $12M
SAN FRANCISCO, CA, Popular online dating app Coffee Meets Bagel (CMB) today announced a $12 million Series B funding round.
The round was led by new investor Atami Capital, a U.K.-based venture capital firm. This capitalization round brings the total raised by the company to nearly $20M since 2012. The funding comes on the heels of the successful launch of their latest initiative, CMB Experiences - unique, real-world events and spaces where CMB users can go offline and engage in fun experiences and connect authentically with someone new.
The partnership with Atami Capital enhances international knowledge and connections as CMB begins to identify opportunities in markets beyond the U.S. for 2018. Joining Atami are several other international venture capital firms as well as prominent female investors including GingerBread Capital led by Linnea Roberts, Shannon Grant, Kheng Lian Ho and Helen Schwab. Existing investors DCM Ventures, Wi Harper and Quest Venture Partners also participated in this round.
"We're excited for the next phase of Coffee Meets Bagel, and are pleased to have some wonderful international and female investors on board. Given our focus on female experience, it was very important that we have a female perspective at the investor level," said Arum Kang, Co-Founder and Co-CEO of Coffee Meets Bagel. "These funds have been earmarked for growth and innovation as we continue to execute on our ambitious goals of getting singles worldwide to share and connect authentically, both via our app and offline."
"Atami Capital is pleased to have invested in CMB because of its differentiated dating platform based upon developing authentic relationships, and for people who want to share real life experiences in the journey of finding a true partner," said Brian Epp, Managing Partner of Atami Capital.
"The team at Coffee Meets Bagel provides a thoughtful, differentiated and curated online dating experience," said Linnea Roberts, Founder & CEO of GingerBread Capital. "I was compelled to invest behind these terrific women entrepreneurs based on the many happy CMB couples that I know personally, and their commitment to bringing authenticity and transparency to the online dating market."
The new financing will help drive international expansion, development and product innovation like CMB Experiences. Earlier this year, CMB launched the first CMB Experience in Hong Kong during the Run Date Festival, a 5K run event for singles, with over 1,300 people taking part in pair games and other activities. The first CMB Experience to launch in the U.S. took place earlier this month with Camp Meets Bagel, a fun-filled, all-inclusive sleepaway camp for adults in upstate New York. For information on upcoming CMB Experiences, visit this link.
About Coffee Meets Bagel (CMB)
Coffee Meets Bagel's mission is to foster authentic connections for this generation. The app curates quality matches with fuller profiles that result in real conversations. Globally, CMB has generated millions of real dates and thousands of lasting relationships. Coffee Meets Bagel was named one of the Top 10 Dating apps by Time Magazine and the Best Dating App for Women by Refinery29. It has also been voted the #1 recommended dating app for singles looking for relationships. CMB is free to download for iOS and Android.
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