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Opinionaided Closes $4.3M Series A

2011-08-11
Round led by SoftBank Capital and BlueRun Ventures.
NEW YORK, NY, Mobile question-and-answer company Opinionaided announced a $4.3 million round of funding to fuel the rapid growth of its service, which provides opinions on virtually any topic.

The company's dramatic rise is credited to its focus on building a utility with strong social appeal and the active community of users on iOS devices, who have delivered 125 million responses to consumer questions since launch last year.

The company's new funding represents its Series A round, and is led by SoftBank Capital and BlueRun Ventures. The round includes participation or conversion by all original seed round investors. This includes venture capital firms General Catalyst and Draper Fisher Jurvetson as well as notable angel investors, including DreamIt Ventures' Mark Wachen, Jonah Goodhart of Point Ventures Group, Facebook advisor and Path investor Karl Jacob, ENIAC Ventures and Vince Monical, former head of emerging platforms at Google, among others.

"Helping users share and receive real-time opinions on the go has been an incredibly social phenomena, one which we are fully embracing while continuing to build the utility of the platform," said Dan Kurani, co-founder and CEO of Opinionaided. "Our broad base of A-list investors is a testament to how Q&A is evolving beyond simple fact-based services to the massive market of opinion and advice-based communication. With this funding we aim to rapidly innovate and cement a leadership position within this space."

With the new funding, Opinionaided is announcing the formation of its board of directors, comprised of industry veteran Karl Jacob, whose early Q&A company Keen was bought by AT&T, as well as investors Jay Jamison, venture partner at BlueRun Ventures, and Joe Medved, partner at SoftBank Capital.

"Opinionaided's mobile platform delivers an incredibly engaged audience, providing users with nearly instant gratification in soliciting and providing opinions," said Joe Medved, partner at SoftBank Captial. "We are excited to partner with Dan Kurani and his team, who we believe have built a behavioral experience with global appeal."

"Opinionaided addresses a massive user opportunity-real-time mobile Q&A- with a fantastic product experience," said Jay Jamison, venture partner at BlueRun Ventures. "Their team has built a product that is optimized for mobile devices and has created standout user engagement and traction that has long-term appeal. We think this positions Opinionaided as the market leader in this category."

The company is also announcing version 3.1 of its iOS app, which introduces an enhanced user interface and even more ways for consumers to engage and interact. Version 3.1 enables users to send questions to anyone - even outside of the Opinionaided community - using SMS, Twitter and Facebook. 3.1 also includes new features designed to elevate the user experience, such as comprehensive bios, online image search, and overall improved content targeting.

Opinionaided is the fastest way to get and give opinions from peers. Users can ask questions in a variety of categories and receive dozens of responses in the first couple of minutes. The service's addictive nature has resulted in the average user spending nearly three hours per month in the app.

About Opinionaided
Opinionaided is a free application that allows consumers to use their iPhone, iPod Touch or iPad to get advice and opinions in real-time. Users can also answer questions at http://opinionaided.com/ with more platforms coming soon.



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