US-based dating app Hinge has raised $12m in a series A round that included CAA Ventures, the corporate venturing fund for talent agency CAA.
The round, led by venture capital firm Shasta Ventures, also included Lowercase Capital, Great Oaks Venture Capital and Eniac Ventures.
Hinge previously raised $4.5m in a July 2014 seed round backed by CAA Ventures, Lowercase, Great Oaks, Founders Fund, Lumia Capital and Middleland Capital, which followed a November 2013 round that raised $4m from Middleland, Great Oaks, Graph Ventures, Militello Ventures and Fortify Ventures.
In 2012, Hinge received $100,000 from Fortify Ventures, secured when it entered Fortify’s accelerator, Fort.
Hinge’s app taps into social networks to introduce potential dates to each other via mutual friends, aiming to replicate real-life introductions. It has seen a fivefold growth in users during 2014, during which time it has entered 24 new markets.
The company will use the series A funding to hire more staff for its development team, improve its product and enter additional markets.
Justin McLeod, founder and chief executive of Hinge, said: “We are excited to have the support of Shasta and our other investors as we expand to a broader market and continue to focus on delivering a stand-out user experience.”