and may be the mainstays in the world of dating apps, but a new crop of dating startups is getting venture funding to help people find connections in new mediums.
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According to 蹤獲弝け data, there were 43 funding rounds to VC-backed companies in the dating space last year, totaling more than $31 million. The vast majority of companies raised angel, pre-seed and seed rounds (only three were of a different stage���Series A), meaning VC interest in the dating sector last year was focused on the earliest-stage companies.��
Among the companies to raise money are audio-based dating apps, video-based dating apps, and meme-based dating apps (yes, really).
There are a few reasons that VCs are investing in dating apps that embrace new formats.
First, it���s been about a decade since dating apps like Tinder and were founded. Typically, every 10 years or so, there���s a new wave of dating platforms that emerge and try to unseat the incumbents, according to , CEO of video dating app . Kaplan previously spent about a decade at the dating website PlentyOfFish.
Tinder and Bumble were the first truly mobile-first dating platforms to rise to popularity. Now, dating apps are coming up in different formats. ���You���re seeing this next wave coming up that���s saying, ���What are the new mediums people want to see in dating?������ Kaplan said.
Legacy companies, like the dating behemoth , are simultaneously working to incorporate audio, video and more engaging ways to interact into their dating apps. In Match Group���s case, that���s most notably for Tinder and Hinge, both of which it owns. The company also owns older dating websites including OkCupid and PlentyOfFish.��
Match Group bought Korean social media company for $1.73 billion last year. Its integration is part of a shift in Match���s mission to not only connect daters, but connect people in other social formats, analyst Ygal Arounian wrote in a research note late last year.��
���Most notably, Tinder is evolving to include a virtual and metaverse-like experience in Explore and Hyperconnect is, no question, an integral part of this,��� Arounian wrote, adding that the moves had ���potential significant long-term implications��� even though it was still in the early stages.��
Consumer experiences generally are becoming more immersive, whether through augmented reality, virtual reality or other ways to interact, according to , founder of the audio-based dating app . People became accustomed to a certain way of connecting with each other, Ogundu said. In the case of dating apps, it was by looking at photos of another person and reading an ultra-short bio.
���Even when these dating apps came out, the reason why they focused so much on images was there was the Instagramification of the world at that time,��� Ogundu said.��
was the buzzy social media app a decade ago, so other apps followed suit in being image-driven. But now, many people want something different because they���ve used the same sort of app for so long, he said.
The majority of the dating companies that raised money last year were early stage, raising pre-seed or seed rounds, 蹤獲弝け data shows. Among them were Snack, Heart to Heart and , which connects people through gaming.
The resurgence of investment in consumer tech in general is also driving more funding to dating startups. The explosion in popularity of apps like and , in particular, have brought consumer technology back to the forefront, according to Kaplan.
���VCs are really cyclical in terms of their investing theses, and consumer (tech) was out for a while and VCs weren���t funding consumer apps,��� Kaplan said. ���I think you’re seeing a new wave of consumer funding, and dating apps are part of that.���
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