Yik Yak, a US-based anonymous messaging app developer backed by investors including social network Renren, has raised $62m in series B funding, the Wall Street Journal reported on Monday.
The round, which was led by venture capital firm Sequoia Capital, values Yik Yak at between $300m and $400m, and brought its total funding to $73.5m. It was also set to include existing investors, though this has not been confirmed by Yik Yak.
Renren invested in Yik Yak’s $10m series A round, which closed in July, along with venture firms Azure Capital Partners and DCM, and private investors Niko Bonatsos, Kevin Colleran and Tim Draper. Vaizra Investments and Atlanta Ventures backed Yik Yak at seed stage.
Founded in late 2013, Yik Yak acts as an anonymous online noticeboard where users can post messages to a geographically local live feed. It has grown staggeringly quickly, reaching its current valuation only seven months after it closed a $1.5m seed round that valued it at $10m.
The company has mainly focused on universities and colleges, which has attracted comparisons to Facebook, but it is seeking to extend the app to a wider audience as it expands.