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Rocket DAO ecosystem

Circle community platform raises $4M in Seed financing

Circle community platform raises $4M in Seed financing

Wednesday, February 17, 2021

Startup Jedi

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The importance of communities is shown not only by numerous studies, but also by the labor market, where a community manager is an important and promising position. Today, business is turning towards the development of the community around the brand, realizing that this is the most relevant tool in today’s realities.

A community is a competitive advantage of a business, which among other things generates content, events, marketing, and acts as an ambassador and advocate for the brand. However, the brand does not have to be large and developed, it can also be the personal brand of the content creator. The startup Circle, which announced a $4M Seed round yesterday, is built on working with the community around the latter.

The platform allows content creators to accumulate discussions, online meetings with community members, the work of moderators, and everything that makes up the canvas of the community’s life. According to project CEO Sid Yadav, they want to offer an alternative to the usual communities around YouTube, Twitch and Patreon by combining the best community tools within their resource. Communities created on the platform have their own special space for discussions with the creator of the community and with each other. They can also be given a separate domain for communication

During the last month the company has reached $1M ARR and has already raised 1 000 paying users and 2 000 paying communities. The platform shows a steady growth of active daily and monthly users, and this could not pass the attention of venture capital funds.The current round was led by Notation Capital, which already participated in the pre-seed Circle last year.

The platform’s team consists of 20 people, and their iOS app came out of beta last month. The founders gave most of the funding to strong community creators to support their work. The app’s global goal is to bring together every possible community tool under one roof, from event tickets and merch to newsletters and podcasts.

17 Feb 2021

 

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