More investors enter Clubhouse - Mobile World Live

More investors enter Clubhouse

19 APR 2021

Audio chat app provider Clubhouse outlined plans for global growth and expansion of its teams using fresh funds secured in a Series-C round.

The company said it raised an undisclosed amount in a funding round led by venture capital company Andreessen Horowitz in which investment companies DST Global, Tiger Global and serial entrepreneur Elad Gil also participated.

Clubhouse recently gained popularity as an invite-only service on iOS, providing a social network consisting of chat rooms with audio-only features. It closed a Series-B funding round in January: Reuters reported the latest investments brought the company’s valuation to $4 billion.

In a statement, Clubhouse explained it would use the fresh investment to expand its team and develop functions to boost content discovery features.

AppAnnie ranked Clubhouse as the third most-downloaded social networking app in February. But it could face a tougher road ahead, with LinkedIn revealing tests of an audio feature in March and Recode reporting Facebook was also exploring the functionality.

Clubhouse said its app was available in “hundreds of countries” with an nearly 200 funds, angel investors and content creators on board.

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Yanitsa Boyadzhieva

Yanitsa joins Mobile World Live as a Reporter based in London. She has more than 5 years’ experience at various media outlets in her home country Bulgaria. She started her career as a political reporter, followed by taking editor roles...

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