Social network app for mothers raises $5m new funding
Peanut is expanding its audience to reach women trying to conceive
Social network app Peanut, which allows mothers to connect with and learn from “like-minded women”, has raised $5m (£3.8m, €4.5m) in new funding and is expanding to reach women who are trying to conceive.
The funding round was led by San Francisco and London-based venture capital firm Index Ventures who also back Dropbox, Facebook and Glossier.
Other Peanut investors include Sweet Capital, Greycroft, Hollywood actor Aston Kutcher’s Sound Ventures, Female Founders Fund, Felix Capital and Partech.
Peanut has raised $9.8 million so far.
CEO and co-founder Michelle Kennedy came up with the Peanut idea when she struggled to meet like-minded mothers when she first had her child.
A former deputy CEO at dating app Badoo and inaugural board member at Bumble, Kennedy thought women needed more of a community space.
Peanut launched Q&A forums, called Peanut Pages, last year, followed by Peanut Groups, which has become the main function, with 60 per cent of users taking advantage of the app’s community features and 40 per cent using its friend-finding functions.
Peanut allows women with similar-aged children in the same neighbourhood to connect and creates matches based on shared interests. Users can chat, arrange meetings and share experiences.