Gay Social Network, Hornet, Raises $8 Million In Series A Funding
SAN FRANCISCO, November 22, 2016-- Hornet, the world's second largest gay social network, announced today that it has raised its first round of institutional funding led by Ventech China to support rapid business growth and user adoption across the globe.
Hornet is committed to strengthening the gay community by providing quality social interactions with more ways to meet and engage in local gay communities. It recently introduced its version 3.0 which features an activity feed and the discover platform, which will take gay apps to the next level.
With over 15 million total and 3 million monthly active users, Hornet recently integrated Vespa — the largest, most comprehensive gay city guide — into its functionality. Vespa features over 5,000 places and 300 city guides in 70 countries and up-to-the-minute event listings around the world written by Vespa users and the international journalists at Hornet's content provider, Unicorn Booty.
"We are excited to work with our new investors to further our mission and engage our community," said Christof Wittig, CEO, Hornet. "Hornet brings interaction and an experience that builds relationships and helps form meaningful connections to local communities. We will invest heavily into making our vision for a fully connected gay community a reality."
Eric Huet, Managing Partner at Ventech who joins the company's Board of Directors, said, "We're thrilled to have the opportunity to invest in Hornet. The platform combined with the user functionality is unparalleled. In such a short time, Hornet has claimed leader position in many markets across the globe."
"Gay apps have evolved over the past few years to more fully engage users, who demand a richer, mobile experience," says Hornet President Sean Howell. "Hornet users expect to interact with other members and to be informed about the issues important to gay culture. Hornet is designed to reach and fulfill the needs of our diverse user base."
Hornet's business momentum reached new levels this past year with the acquisition of Vespa and Unicorn Booty. Hornet is now the number one gay social network in markets including France, Russia, Brazil and Taiwan and is showing rapid organic growth in other key markets.
Hornet's free social network app available on iOS, Android, and the web.
About Hornet Networks
Hornet is the world's second largest gay social network. Founded in 2011 with the mission to provide the best quality product, it has grown to 15 million total and 3 million monthly active users. Hornet is number one in the key markets of France, Russia, Brazil, Turkey and Taiwan, and is consistently expanding its sizable user base in the United States. For more information, please visit: http://love.hornetapp.com.
About Ventech China
Ventech China is based in Shanghai. Ventech China 3 is a USD 225 million venture capital fund focused on communities, M-commerce and Big Data. Its current portfolio companies include Keep, the No.1 fitness training and community app in China, Blued, the No.1 gay community app in China, WonderFull, the emerging Japanese product M-commerce platform, Juzi, the leading entertainment news platform, and Datawin, the leading big data company in sales leads generation. Ventech China is dedicated to growing together with innovative startups and help them to become global leaders in their fields.
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