Startups

Auto Added by WPeMatico

Health APIs usher in the patient revolution we have been waiting for

Published May 7, 2020

Rish Joshi
Contributor

Rish is an entrepreneur and investor. Previously, he was a VC at Gradient Ventures (Google’s AI fund), co-founded a fintech startup building an analytics platform for SEC filings and worked on deep-learning research as a graduate student in computer science at MIT.

The incredible complexity of today’s patient data systems

How will digital media survive the ad crash?

Published May 6, 2020

When I first met Bustle Digital Group’s Jason Wagenheim, it was right as New York City was beginning to go into lockdown. The BDG offices were empty thanks to the company’s newly instituted work-from-home policy, but it still seemed reasonable to meet in-person to learn more about BDG’s broader vision.

At the time, Wagenheim — a former Fusion and Condé Nast executive who joined BDG as chief revenue officer before becoming president in February — acknowledged that we were entering a period of uncertainty, but he sounded a note of cautious optimism for the year ahead.

Since then, of course, things have been pretty rough for the digital media industry (along with the rest of the world), with a rapid reduction in ad spending leading to layoffs, furloughs and pay cuts. BDG (which owns properties like Elite Daily, Input, Inverse, Nylon and Bustle itself) had to make its share of cuts, laying off two dozen employees, including the entire staff of The Outline.

And indeed, when I checked back in with Wagenheim, he told me that he’s anticipating a 35% decline in ad revenue for this quarter. And where he’d once hoped BDG would reach $120 or $125 million in ad revenue this year, he’s now trying to figure out “what does our company look like at $75 or $90 million?”

At the same time, he insisted that executives were determined not to completely dismantle the businesses they’d built, and to be prepared whenever advertising does come back.

We also discussed how Wagenheim handled the layoffs, how the company is reinventing its events sponsorship business and the trends he’s seeing in the ad spending that remains. You can read an edited and condensed version of our conversation below.

TechCrunch: We should probably just start with the elephant in the room, which is that you guys had to make some cuts recently. You were hardly the only ones, but do you want to talk about the thought process behind them?

Jason Wagenheim: Yeah, we ended up having to say goodbye to about 7% of our team, and we had salary reductions to the tune of 18% company-wide for those that made over $70,000. And then we had 30% pay cuts for executives.

You’ve read about all this, I’m sure. It was a really, really hard decision. We spent two weeks in planning, dozens of spreadsheets, negotiating with our investors on a plan that would keep the company moving forward, but [had to] be very sober to the reality of what was happening around us. But also most importantly for us, for our executive team, we weren’t about to disassemble the company that we spent the last 12 to 18 months building.

Publicist launches its marketplace for freelance PR and marketing

Published May 6, 2020

Founder and CEO Lara Vandenberg told me she created Publicist to support the ways in which the communications and marketing industry is changing — changes that are only accelerating due to COVID-19.

Vandenberg was previously senior vice president of communications and marketing at Knotch, and she told me, “More companies now are being better served by this flexible support, rather than being tied to these costly and rigid agency retainers.”

And at the same time, Vandenberg said there’s more freelance talent looking for work.

“As we’ve seen, more brands are continuing to downsize their internal teams, so a lot of people coming to the platform have either been furloughed or laid off,” she said. “This is really, really premium talent. I always believed that the industry was moving to project-based work.”

So she built an early version of Publicist while at Knotch, then left to focus on it full time. She launched a beta test earlier this year before the full launch this week.

Image Credits: Publicist

The goal is to help businesses find and hire freelancers for work like content creation, crisis communications, developing a go-to-market strategy or even hiring an interim CMO. Vandenberg said Publicist vets all the talent on the platform, and that those freelancers have worked for brands like Apple, Nike, Microsoft, IBM, Away, Glossier, Casper and Google.

“We have 350 skills on the platform, and I would say only about 10% of those are PR-related,” she added.

And Publicist isn’t just for establishing the initial connection between company and freelancer. It’s designed to enable the full collaboration process, with tools like video chat and screensharing — then the startup takes a 20% commission on payments.

Publicist is starting in North America, with plans to expand globally. Vandenberg suggested that some jobs (like crisis comms) probably require someone with local, on-the-ground knowledge, while others (like Amazon or Shopify marketing) are more geography agnostic.

Sending severed heads, and even more PR DON’Ts

More debt, improving margins: How startups are retooling in the COVID-19 era

Published May 6, 2020

A new data set from Silicon Valley Bank (SVB) details how startups are reacting to the post-unicorn era as COVID-19-related disruptions upset the global economy and remake the risk tolerance of private investors.

What SVB’s new report shows is unsurprising: venture capital deal volumes are falling, startups are tapping existing debt capacities to add cash to balances while they still can and some upstart firms are curtailing spend to reduce unprofitability. The last data point comes via the lens of startups that recently raised, making the data more a snapshot of what companies that are successfully attracting capital may have accomplished with regard to improving profitability — the directional shifts are material regardless of that particular nuance.

Let’s briefly examine what the data says and what it tells us about the state of the startup market.

Spending less, borrowing more

Venture capitalists are pulling back, SVB data indicates. A chart from its Q2 markets report notes that the “SVB Deal Activity Index” had fallen from a rating of 160 in early March to just over 70 by mid-to-late-April. That staggering decline means fewer rounds are getting done and that there is less capital going into startups of all sizes.

With funding from Indie.vc, ReadySet is scaling to meet the demands of a changing workplace

Published May 6, 2020

ReadySet, a diversity, equity and inclusion startup led by Project Include founding member Y-Vonne Hutchinson, has raised its first, and perhaps last, round of funding from Indie.vc.

“We were lucky enough to close our round right as the coronavirus was hitting and then shifted our business to doing remote stuff that offered connection,” Hutchinson told TechCrunch.

For the last five years, ReadySet has been sustaining itself off of revenue, and in the last year saw about $1 million in annual revenue. ReadySet makes money by offering consulting services to companies looking to create more inclusive workplaces and cultures. ReadySet has worked with companies like Salesforce, Airbnb, Amazon, GitHub, UCSF Health, Mailchimp, Medium and many others.

“We’ve been profitable the entire time we’ve been in business,” Hutchinson said. “But we wanted to be able to maximize our impact beyond in-person training services and doing stuff that felt a little more like product development that didn’t necessitate immediate revenue.”

ReadySet decided to take funding from Indie.vc because of the firm’s focus on startups that are profit-driven, she said. She also “didn’t want to give up a huge chunk of ownership in a firm I built from scratch.”

Indie.vc doesn’t take any equity upfront. If a startup in its portfolio raises additional money or sells, Indie.vc converts its investment to equity at a percentage decided on by the company. If the company never sells or never raises another round, Indie.vc gets a share of the company’s revenue until the firm makes 5x its investment.

“They weren’t interested in taking a big chunk of the business but were instead interested in helping us get more profitable,” she said. “For me, as a founder that has not been in the VC space, it’s been hard to be seen as a real entrepreneur.”

Indie.vc aims to be the last outside financing founders ever need to take. For Hutchinson, she said that could be the case.

“I don’t want to be the kind of founder that chases the next round,” she said. “I want to smartly leverage the funding and continue our profitability and do it at scale. I think some founders get stuck doing that and then don’t focus on the product.”

In light of these trying times amid the COVID-19 pandemic, ReadySet is investing more heavily in remote training offerings.

“We’re really sort of looking for ways we can resource companies trying to rethink digital interaction,” she said. “I also think a lot of people or some people think this is a blip on the radar and we’ll go back to normal. We don’t think that is necessarily going to happen.”

Despite these rocky times where many tech companies are laying off staff members and putting some on furlough, Hutchinson said some companies have doubled down on what they’re doing in terms of workplace culture.

In past recessions, where diversity, equity and inclusion has been seen as a ” ‘nice to have,’ there is an existential threat that has changed the way we live and the way we have to show up at work,” Hutchinson said.

People are now isolated or needing to take care of family, she says. Perhaps they’re drinking more and/or working through grief, loss and death — all of which are traumatic, she said.

“All of those issues actually implicate DE&I,” Hutchinson said. “We’re used to siloing it, but in reality, DE&I speaks to how people show up, how they feel included, how we support people and now, more than ever, that’s really important.”

Hutchinson says her clients are asking her more about mental health, belonging, childcare and bringing compassion into these trying times.

“A lot of tech companies don’t necessarily have strong management cultures,” she said. “Those gaps are now becoming really obvious to people. I think we’re all in a place where we’re trying to figure out how we adjust to what’s going on now. It’s about so much more than work right now. I would encourage companies, even if they don’t consider that to be DE&I, to think about how they’re treating their employees.”

Invisible AI uses computer vision to help (but hopefully not nag) assembly line workers

Published May 6, 2020

“Assembly” may sound like one of the simpler tests in the manufacturing process, but as anyone who’s ever put together a piece of flat-pack furniture knows, it can be surprisingly (and frustratingly) complex. Invisible AI is a startup that aims to monitor people doing assembly tasks using computer vision, helping maintain safety and efficiency — without succumbing to the obvious all-seeing-eye pitfalls. A $3.6 million seed round ought to help get them going.

The company makes self-contained camera-computer units that run highly optimized computer vision algorithms to track the movements of the people they see. By comparing those movements with a set of canonical ones (someone performing the task correctly), the system can watch for mistakes or identify other problems in the workflow — missing parts, injuries and so on.

Obviously, right at the outset, this sounds like the kind of thing that results in a pitiless computer overseer that punishes workers every time they fall below an artificial and constantly rising standard — and Amazon has probably already patented that. But co-founder and CEO Eric Danziger was eager to explain that this isn’t the idea at all.

“The most important parts of this product are for the operators themselves. This is skilled labor, and they have a lot of pride in their work,” he said. “They’re the ones in the trenches doing the work, and catching and correcting mistakes is a big part of it.”

“These assembly jobs are pretty athletic and fast-paced. You have to remember the 15 steps you have to do, then move on to the next one, and that might be a totally different variation. The challenge is keeping all that in your head,” he continued. “The goal is to be a part of that loop in real time. When they’re about to move on to the next piece we can provide a double check and say, ‘Hey, we think you missed step 8.’ That can save a huge amount of pain. It might be as simple as plugging in a cable, but catching it there is huge — if it’s after the vehicle has been assembled, you’d have to tear it down again.”

This kind of body tracking exists in various forms and for various reasons; Veo Robotics, for instance, uses depth sensors to track an operator and robot’s exact positions to dynamically prevent collisions.

Veo Robotics raises $12 million for its vision of a harmonious human-robot workplace

But the challenge at the industrial scale is less “how do we track a person’s movements in the first place” than “how can we easily deploy and apply the results of tracking a person’s movements.” After all, it does no good if the system takes a month to install and days to reprogram. So Invisible AI focused on simplicity of installation and administration, with no code needed and entirely edge-based computer vision.

“The goal was to make it as easy to deploy as possible. You buy a camera from us, with compute and everything built in. You install it in your facility, you show it a few examples of the assembly process, then you annotate them. And that’s less complicated than it sounds,” Danziger explained. “Within something like an hour they can be up and running.”

Once the camera and machine learning system is set up, it’s really not such a difficult problem for it to be working on. Tracking human movements is a fairly straightforward task for a smart camera these days, and comparing those movements to an example set is comparatively easy, as well. There’s no “creativity” involved, like trying to guess what a person is doing or match it to some huge library of gestures, as you might find in an AI dedicated to captioning video or interpreting sign language (both still very much works in progress elsewhere in the research community).

As for privacy and the possibility of being unnerved by being on camera constantly, that’s something that has to be addressed by the companies using this technology. There’s a distinct possibility for good, but also for evil, like pretty much any new tech.

One of Invisible’s early partners is Toyota, which has been both an early adopter and skeptic when it comes to AI and automation. Their philosophy, one that has been arrived at after some experimentation, is one of empowering expert workers. A tool like this is an opportunity to provide systematic improvement that’s based on what those workers already do.

It’s easy to imagine a version of this system where, like in Amazon’s warehouses, workers are pushed to meet nearly inhuman quotas through ruthless optimization. But Danziger said that a more likely outcome, based on anecdotes from companies he’s worked with already, is more about sourcing improvements from the workers themselves.

Having built a product day in and day out year after year, these are employees with deep and highly specific knowledge on how to do it right, and that knowledge can be difficult to pass on formally. “Hold the piece like this when you bolt it or your elbow will get in the way” is easy to say in training but not so easy to make standard practice. Invisible AI’s posture and position detection could help with that.

“We see less of a focus on cycle time for an individual, and more like, streamlining steps, avoiding repetitive stress, etc.,” Danziger said.

Importantly, this kind of capability can be offered with a code-free, compact device that requires no connection except to an intranet of some kind to send its results to. There’s no need to stream the video to the cloud for analysis; footage and metadata are both kept totally on-premise if desired.

Like any compelling new tech, the possibilities for abuse are there, but they are not — unlike an endeavor like Clearview AI — built for abuse.

“It’s a fine line. It definitely reflects the companies it’s deployed in,” Danziger said. “The companies we interact with really value their employees and want them to be as respected and engaged in the process as possible. This helps them with that.”

The $3.6 million seed round was led by 8VC, with participating investors including iRobot Corporation, K9 Ventures, Sierra Ventures and Slow Ventures.

Scaled Robotics keeps an autonomous eye on busy construction sites

Kairn is a new task manager focused on speed

Published May 6, 2020

Meet Kairn, a new startup coming out of stealth today with a sneak peek of what the company has been working on. As Wunderlist shuts down, Kairn wants to prove that there’s still room for an innovative task-management service.

“We’re building a task manager that is smart and focused on capturing tasks,” co-founder and CEO Patricia Bernasconi told me. The startup is backed by eFounders, a startup studio that has been building popular software-as-a-service startups over the past few years.

And it starts with three integrations with third-party services — Slack, WhatsApp and Gmail. If you star an email conversation in Gmail, it’ll automatically create a task in Kairn. Similarly, if you star a message in Slack, it’ll end up in your to-do list. With WhatsApp, you can forward a message to a bot to capture it in Kairn.

“You don’t have to switch apps constantly and you create tasks on the fly,” Bernasconi said.

And you can always trigger the Kairn quick add window on your computer to add a task when you’re using another app. The idea is that it should be as easy as possible to enter tasks in your task repository — Kairn in this case.

After that, you can open the main Kairn desktop app and dig through your task inbox to see what you should do. You can filter tasks by origin application and you can click on a task to look at the context of an email thread or a Slack message, for instance.

Kairn then lets you move tasks to the main list, “My Day.” It works pretty much like Wunderlist or Microsoft To Do — once per day, you can curate a list of tasks and then go through the list during your day.

The product is quite new, as the company started development in April — beta testing will start in the coming weeks. But the idea is to iterate quickly and release new features as soon as they’re ready.

For instance, the mobile app is still in the works. There will be more ways to add tasks in the future as well. You could imagine highlighting text in your browser to create a task based on that text selection.

Over time, Kairn wants to become a full-fledged task-management service. You’ll be able to assign tasks and use it for complex project management scenarios. We’ll keep an eye on the startup to see where they’re heading.

New studio Modern Games acquires Beasts of Balance

Published May 6, 2020

Modern Games is a new studio working to create games that combine physical and digital play.

The company was founded by husband-and-wife team Justin and Amanda Kifer — serial entrepreneurs who previously launched companies including Citizen Local (acquired by MyLife in 2011) and Fidgetly, a fidget spinner company that also created a motion controller for iOS and Android games.

It sounds like the Kifers have a number of new titles in development, but the company is announcing today that it has acquired and is relaunching an existing game, Beasts of Balance.

The game was first released by Sensible Object in 2016. As demonstrated for me by Justin Kifer (the startup’s CEO), Beasts of Balance involves stacking physical animal pieces, while also scanning them into a companion app that keeps score and brings their fantastical skills to life. The basic game costs $99 (currently on sale for $79), and players can purchase expansion packs to get additional accessories, beasts and other “artefacts.”

The other Modern Games titles released this year will be purely physical board and card games, released under its Modern Games [Analog] brand. Kifer told me that the company’s big “flagship” launch is planned for 2021, with a mobile game that involves augmented reality and connected objects, and that takes place in a rich science fiction/fantasy world. In fact, Kifer’s even writing a series of young adult novels to flesh out the setting.

“I want people to think of Modern Games as a studio that is working hard every day push the boundaries what it is to play a game,” he said.

Image Credits: Modern Games

Kifer suggested that by combining physical and digital gameplay, Modern Games’ titles will have the real-world social component of a traditional tabletop game while taking advantage of gameplay that’s also possible digitally.

Kifer also said that by always starting with a core physical product that players need to buy, the company can avoid having to go the free-to-play route adopted by most mobile games. At the same time, he also emphasized that the company will keep the games relatively affordable, with a sub-$40 price for core products. (There were will be additional monetization through physical and digital add-ons.)

On the other hand, our remote demo made it clear that there’s a downside to relying on a physical products — since we weren’t in the same room (and, given COVID-19, are unlikely to be anytime soon), Kifer and I couldn’t actually play the game together.

“The games that we’re working on right now are also multi-player,” Kifer said when I pointed this out. “They’re games that could be played in proximity to other others, but they don’t have to be. For us, it’s all about bringing people together in ways that are inherently social, but it doesn’t necessarily mean physically co-located.”

We need more video games that are social platforms first, games second

The rise of the human-centric CEO

Published May 5, 2020

Romeen Sheth
Contributor

Romeen Sheth is president of Metasys, a workforce-management firm based in Atlanta.

Steve Schlafman
Contributor

Steve Schlafman is founder, coach and angel investor at High Output, a boutique leadership-development company based in NYC.

Peacetime CEO/Wartime CEO by Ben Horowitz is one of the most commonly cited management think pieces of the last decade.

And for good reason; Horowitz surfaced a fundamental distinction in operating philosophy that is necessary for companies to survive, reinvent and ultimately win when macroeconomic environments shift. The framework is especially useful given how counterintuitive the advice is — behaviors of a peacetime CEO and wartime CEO are often on diametrically opposite sides of the spectrum; it is rare to find a CEO who can successfully emulate both personas.

While in concept it is easy to understand these principles, as with most things in life, nothing can replace the visceral comprehension that comes via learned experience. We are at the onset of enduring the most challenging startup environment of (at least) the last 15 years. COVID-19 is an indiscriminate event that is systematically wiping out businesses, whether “atoms” or “bits.”

For most startup operators, this is the first taste of true systematic adversity. The undercurrents of frothy valuations, the social milieu of early-stage investing and stores of excess capital are coming to a grinding halt as the bull market of the last 12 years is dramatically disrupted. We have an entire generation of founders/CEOs who may conceptually understand the peacetime CEO/wartime CEO ethos, but now, they’re going to actually live it. At the same time as every other founder/CEO. Brutal.

Since the onset of COVID-19, we have spoken to more than 100 founders and CEOs. Naturally, we are hearing frequent allusions to peacetime CEO/wartime CEO as a framework to help navigate the landscape. We’ve even used it over the last few months. While we believe it is a helpful framework, it is also incomplete. Further, we believe its application can lead to deeply problematic outcomes.

At a micro level, the misplaced application of peacetime CEO/wartime CEO can fundamentally change a company for the worse. A wartime CEO, as Horowitz notes, is “completely intolerant, rarely speaks in a normal tone, sometimes uses profanity purposefully, heightens contradictions, and neither indulges consensus building nor tolerates disagreements.” In the strictest application, we are seeing this align with a common false trope that has plagued the tech industry: “To change the world like Steve Jobs, I need to emulate all aspects of Steve Jobs’ personality.” A classic logical fallacy many founders/CEOs have learned the hard way — if you emulate all aspects of Steve Jobs’ personality, it doesn’t mean you will change the world like he did.

Each company is driven by its own unique culture and values — in a crisis situation, while it is important to be adept and agile, it’s equally, if not more important, to triple down on the strongest elements of your culture established pre-crisis. Many of the strongest founders/CEOs we have had the pleasure of coaching and investing in are uniquely world-class in their patience and tolerance, their ability to make the abnormal normal and their commitment to inspire with clarity. It is the adherence to these principles that will help carry their companies through this time.

At a macro level, peacetime CEO/wartime CEO conjures outdated themes that are at best inaccurate, and at worst, counterproductive. War implies “destruction, ruthlessness, blood, death;” there is an innate sense of machismo and bravado in this language reinforcing a homogeneous tech community. This type of vernacular and attitude increases barriers to a more inclusive community excluding women and underrepresented minority participation.

Now is the time for us to propagate community, resourcefulness and generosity.

One of the most common takeaways we have heard in reference to the framework is, “now is the time when real founders are made.” If Rent the Runway, ClassPass, Away, the Wing and the countless other women-led/minority-led startups that have been adversely affected by COVID-19 are not able to bounce back, we highly doubt it is because “they weren’t able to cut it as real founders,” a ridiculous assertion to make under any circumstance.

The peacetime CEO/wartime CEO framework is clearly valuable — it forces us to dissect the behavioral shifts necessary to survive in a crisis. That being said, it needs to evolve. Being firm, decisive and staring down an existential crisis is not mutually exclusive with applying empathy, gratitude and generosity. You can be an intense, laser-focused and paranoid CEO without losing yourself or fundamentally changing the culture of your company.

We know dozens of leaders who are leading their companies through these challenging times without leaving a wake of carnage or damage to the foundation they have spent years building. They are leading with their heart and values and will be remembered for how they carried themselves, treated their employees and guided the company through the crisis. COVID-19 presents us with a unique opportunity as an industry. Now is the right time to retire the false dilemma of peacetime CEO or wartime CEO and empower the rise of the human-centric CEO:

The human-centric CEO considers and balances the needs of her organization, employees, customers and other stakeholders in good and bad times;
The human-centric CEO recognizes she cannot change the macro environment or competition so she focuses her effort and energy on what she and the team can control and manage;
The human-centric CEO internalizes his mission, vision and values in the face of difficult challenges and critical strategic decisions;
The human-centric CEO views and manages her company as a complex and dynamic human system with nuanced inputs and interdependencies;
The human-centric CEO believes employees are the single most important stakeholder — that is reflected in how the organization hires, coaches, trains, incentivizes and retains;
The human-centric CEO orients around decisive and bold decisions that impact employees rather than a series of micro maneuvers that damage culture and trust;
The human-centric CEO creates shared meaning and purpose by reiterating the mission and vision over and over and over again;
The human-centric CEO fosters an organization that values and cultivates psychological safety;
The human-centric CEO develops self-awareness and inner resilience to weather the emotional ups and downs of company building;
The human-centric CEO invests the time and energy to go deeper with her employees at strategic junctures and times of crisis;
The human-centric CEO distills and simplifies issues, strategies and tactics to help employees reduce noise and increase focus;
The human-centric CEO communicates frequently and articulates expectations with humility and confidence to avoid uncertainty, prevent anxiety and achieve alignment;
The human-centric CEO recognizes he has a range of communication mediums at his disposal and selects the most appropriate one based on the magnitude of the situation;
The human-centric CEO believes in the power of company rituals such as one-on-ones, exec team meetings, all-hands, stand-ups, retrospectives and off-sites;
The human-centric CEO expresses empathy, appreciation and gratitude for the work performed by existing, outgoing and former employees;
The human-centric CEO listens intensely and empathetically with her full self — ears, eyes and intuition;
The human-centric CEO takes out time for self-care because she understands she cannot serve others and be highly effective unless she is mentally and physically healthy.

There’s no way to mince words. COVID-19 is having a devastating impact on the startup community. The inevitable is unfortunately occurring every day — many startups will never come back from this. As eternal optimists, however, we see opportunity in this crisis for the broader industry: the rise of the human-centric CEO. Now is the time for us to propagate community, resourcefulness and generosity. It’s the time to be ever thoughtful about employees, colleagues, stakeholders and fellow founder/CEOs in need. Individual startups may not survive this crisis, but it is our hope that an everlasting mentality does.

By no means is this list exhaustive, but it captures the behaviors and attributes from the top leaders we are working with. We believe CEOs should strive to become human-centric. Not only because it’s the right thing to do, but also because we believe it will lead to healthier organizations and better results over time.

Social network for women Peanut raises $12M Series A amid pandemic

Published May 5, 2020

Peanut, an app that began as a tool for finding new mom friends, has evolved into a social network now used by 1.6 million women to discuss a range of topics, from pregnancy and parenthood to marriage and menopause, and everything in between. On the heels of significant growth in online networking fueled by the COVID-19 pandemic, the company is today announcing the close of a $12 million Series A round of funding, led by EQT Ventures, a multi-stage VC firm that invests in companies across Europe and the U.S.

Index Ventures and Female Founders Fund also participated, bringing Peanut’s total raise to date to $21.8 million.

The round itself closed just weeks ago — arriving at a time when the coronavirus pandemic is impacting the startup world, often drying up venture capital for emerging companies. Some startups, as a result, have laid off employees to self-sustain, while others have sought exits or even folded.

Peanut, on the other hand, has seen rapid growth for its platform as women looked for a supportive online environment to discuss their own concerns over how COVID-19 was impacting their lives.

Many women participating in Peanut’s newer “Trying to Conceive” group, for example, worried about their canceled IVF rounds and how to plan for the future. Current moms-to-be wanted to hear from others about how COVID-19 would impact their hospital delivery plans. And others stuck working at home with kids looked for advice and coping strategies.

Since the outbreak, Peanut has seen engagement across its app increase by 30% and content consumption increase by 40%. Its total community also grew from 1 million users in December 2019 to now 1.6 million, as of April.

“We’re really lucky in that we’re growing and that we are, for the most part, untouched by what’s happening,” says Peanut founder and CEO Michelle Kennedy. “And actually, if anyone needed community more, it’s now,” she added.

Though the pandemic has sent the app’s usage skyrocketing, it has also readjusted Peanut’s priorities with regard to its roadmap.

Most notably, its friend-finding feature needs a rethink.

Peanut originally worked as a sort of “Tinder for mom friends” — an idea that arose from Kennedy’s personal experience with how difficult it was to forge female friendships after motherhood. As the former deputy CEO at dating app Badoo and an inaugural board member at Bumble, she brought her extensive experience in matchmaking apps to Peanut, which uses a similar swipe-based mechanism.

But COVID-19 has up-ended this side of Peanut’s business. Today, Peanut users are meeting in Zoom chat rooms to hangout or play games, but not in person.

Kennedy says the company will try to meet these users where they are with the development of more video networking features, potentially with technology built in-house. Other plans for the new capital include improvements to the social discovery aspects of its app, the development of a web version of Peanut, and the creation of more groups beyond those focused on fertility and motherhood, which have so far been core to the Peanut experience.

Specifically, the company soon plans to launch a new community focused on women living with menopause, an experience that will reach more than a billion women by 2025. Despite the fact that all women with ovaries will go through menopause, there are relatively few online communities dedicated to it — which Peanut sees as an untapped market.

Peanut’s real strength, however, is not in the types of communities it grows on its platform, but how they’re created.

There has not yet been a social network that focused on “building a platform for women, thinking about women’s needs and built by a women,” explains Kennedy. “So what we end up doing is using things that already exist — trying to twist them and mold them into what we need, and never getting it exactly right,” she says. “We can do better than that.”

One small example of this is the recent launch of Peanut’s “Mute Keywords” feature that allows women to remove certain types of discussions from their feeds and notifications. Some women used this to create a coronavirus-free news feed that focused on other aspects of motherhood. Others who were trying to conceive muted conversations around “pregnancy,” which they found emotionally triggering.

With the Series A’s close, Peanut says Naza Metghalchi from EQT Ventures joins the company’s majority-female board, alongside Hannah Seal from existing investor Index Ventures.

“Peanut’s user engagement metrics are a testament to the app’s ability to act as a true emotional companion throughout women’s journeys,” said Naza Metghalchi, venture lead and investment advisor at EQT Ventures, in a statement. “The EQT Ventures team is excited to partner with Michelle and continue to grow Peanut into a platform that serves all women at different life milestones, exploring topics beyond fertility and motherhood which have already seen such huge traction.”

The additional funding allows London-based Peanut to expand its business and hire more engineers to join its current team of just 16.

“I think having closed a round in this climate is great for the team,” says Kennedy. “It’s also great for the community because it means that we can grow the team, build quicker, build faster and develop the product more quickly,” she adds.