East Meet East, the US-based Asian dating website and app, has closed its $4m Series A funding round.
Investors in the round included 500 Startups, Asahi Medialab Ventures, DG Lab Fund, Mobile Internet Capital, Septeni Holdings Co and others.
The funds will be used for developing an advanced artificial intelligence (AI) matching system, expanding into Asia, launching an additional site and adding more entertainment features to the platform.
Mariko Tokioka, CEO, said:
“In 2014, we started from nothing, and now we can confidently say East Meet East is a household name within the Asian community, growing our user base over 8x from January 2016 till the end of 2017. People are talking about us in schools, dinner tables, and even at weddings!
“We are now focused on enhancing our matching capabilities, expanding our features and expanding into Asia to continue our growth in this fast-growing demographic segment.”
East Meet East is collaborating with DG Lab, jointly established by Digital Garage and Daiwa Securities Group, to launch its new AI matching system ‘Love.AI’.
The system’s algorithm will take factors such as past matches and communications into account to constantly refine how users are matched. As Love.AI deepens its learning, users will be able to cut down on the time they spend scrolling through incompatible matches, further increasing effectiveness and their success on East Meet East.