New York-based investment firm Alpha Wave Global and Seoul-based venture capital firm Hashed have led a $23 million Series A funding round in social networking app Hunch.
Headquartered in Dubai, Hunch was launched in 2022 by Ish Goel, Nitika Goel, and Kartic Rakhra. It has offices in India and Singapore, and reportedly raised $3 million in a seed round in 2022.
The fresh capital infusion will help launch the app across the US and further expand in India, while it introduces more features, the company said in a statement.
Hunch said it plans to introduce new features based on user insights. These enhancements are poised to make the platform more engaging and valuable to its user base.
“We believe Hunch has achieved product-market-fit, and this is a good time to celebrate this news with the community,” said Ish Goel, chief executive of Hunch.
“This investment underscores our commitment to making Hunch the go-to destination for authentic, meaningful connections for young adults. With (investors’) support, we are better positioned to drive our vision of connecting people from all corners of the globe without fear of judgment or pretense,” he added.
Hunch allows its users to engage anonymously with each other. The app relies on the anonymity of its users to create polls around an array of topics including pop culture, gaming, finance, dating, relationships, and anime, among others.
“Consumer social expects a rejig every few years, and Hunch is poised to drive that change,” said Tak Lee, CEO and Managing Partner at Hashed Emergent. “With fatigue growing amongst Gen Z around apps that promote vicarious living, there is a big opportunity to build something that promotes being real without the filters.”