Peanut, a social networking app for mothers, has secured $12 million dollars in additional funding. In 2017, entrepreneur Michelle Kennedy founded the diverse user base platform to better support women in all phases of motherhood.
In 2019, the app initiated a community for women wanting to conceive, offering women a platform to truthfully share their encounters with infertility and miscarriages, etc. This social network has continued to flourish during COVID-19. The app is free to join.
Currently, the platform features nearly 1.6 million users and has captured the attention of numerous investors over the years. Their recent securement of 12 million dollars brings their total amount of funding raised to $21.8 million dollars.
The new funding round was led by EQT Ventures, a multi-stage venture fund in the U.S. and Europe. Other financial bakers include the Female Founders Fund and Index Ventures.
Usage of the app is up 30% and the funding raised will be used to expand the application's reach, help stay relevant, and also add new features for women that are trying to conceive.
The app is available on for iPhone and Android.
For more details visit, www.peanut-app.io/
