Yik Yak, the US-based developer of a social information sharing app, secured $10m in series A funding on Monday in a round featuring China-based social network Renren.
Venture capital firm DCM led the round, while venture capitalist Tim Draper and VC fund Azure Capital Partners also participated. Yik Yak previously raised $1.5m in seed capital in April 2013 from DCM, Vaizra Investments and Atlanta Ventures.
Founded in 2013, Yik Yak has created a social bulletin board that allows its users to share and access real-time information and social media posts with people around them while retaining their privacy. It can be used on tablets and smartphones with iOS or Android systems.
Yik Yak will use the funds to build infrastructure, hire engineers and bring the app to all US university campuses. The company also plans to accelerate its international expansion.
Alan Masarek, co-founder and former CEO of Quickoffice, and DCM general partner David Chao of DCM joined Yik Yak’s board of directors in conjunction with the funding.