Coffee Meets Bagel is a San Francisco-based dating app that differentiates itself by limiting the number of matches offered to users in a 24-hour window. The company added a video feature late last year to add an extra dimension to profiles and recently introduced additional CMB Experiences to bring users together in real life. It competes with large incumbents such as Match Group (owner of Tinder, OkCupid, PlentyOfFish). The Series B will fund international expansion, more CMB Experiences, and other product innovation. Since launching in 2012, Coffee Meets Bagel has raised just under $20 million in total. Co-CEO Arum Kang highlighted the importance of having female perspectives at the investor level and noted participation from investors with prominent female partners. Coffee Meets Bagel is a dating service that delivers a single daily match drawn from users' Facebook friend-of-a-friend connections to promote accountability and better behavior. Users have 24 hours to respond to each match before it expires, and mutual likes can trigger a date discount for activities like coffee or drinks. The app limits matches to avoid divided attention and emphasize quality over quantity. Coffee Meets Bagel launched in 2012 and earlier this year released an Android version to expand its potential user base. The company plans to use the recent financing to hire more developers and engineers to continue building out the product. No revenue or user metrics were disclosed in the article. Coffee Meets Bagel is an online dating service that delivers one curated friend-of-a-friend match (a “bagel”) to users each day via its web service and new iOS app. Users sign up through Facebook, specify attributes such as religion, ethnicity and height, and receive one daily match they can “Pass” or “Like”; mutual likes are connected through a private company texting line. The product is gamified: users earn or buy in-app “coffee beans” to unlock features, and 3–5% of users purchase beans. The company previously partnered with local businesses in select cities to provide first-date offers but abandoned those partnerships outside a few markets to prioritize faster expansion. Launched in New York City in 2012, Coffee Meets Bagel reports about 80,000 users, more than 1.5 million matches, and 70% of members check the service daily. With the national iOS release, the team says it will refine its matching algorithm to handle a more diverse and geographically distributed member base.

Total raised

$20M

Funding rounds

3

Latest round

Series B

Latest activity

May 2018