Peanut, the social networking app for mothers, has closed a $5 million funding round. It was led by Index Ventures, with participation from previous backers Sweet Capital, Greycroft, Sound Ventures, Female Founders Fund, Felix Capital and Partech.
Launched in 2017, Peanut already boasts a community of one million women who use the app to connect with like-minded mothers to chat, connect and share advice. Founder Michelle Kennedy previously served as the deputy CEO at dating app, Badoo and was also an inaugural board member of dating app Bumble.
The startup has also announced the launch of TTC (Trying to Conceive), a new platform offering women on assisted fertility journeys, those considering alternatives to pregnancy and women experiencing loss, an opportunity for information, support and community.
Michelle Kennedy said:
“We want to shine a light on an often silent struggle. What has always been Peanut’s point of difference is enabling conversations women feel unable to have on any other platform. Providing a safe, inclusive space for women to discuss fertility is a natural progression for our brand as we continue to support women throughout each life stage. No woman should ever feel lonely, isolated or muted on such an important issue.”
Hannah Seal, principal at Index Ventures, adds:
“We’re incredibly excited to partner with Michelle to grow Peanut from the essential platform for mothers it is today, to a social network for women globally. Peanut is a true companion for women, bringing them together when they need each other the most. We’ve been impressed with the response Peanut has received since launch and look forward to supporting the team as it enters into new areas such as fertility, and expands globally.”
Kennedy said TTC addresses an overlooked component of The Global Fertility Services market size, which is expected to reach USD$36 billion by 2023.