The new funding will enable the company to further invest in R&D, technology development, building both Android and desktop apps, investing in sales and customer success teams and creating a marketing team. “Some of our competitors were around for a long time, but what no one was getting right is an all-in-one approach combining chat, social media and community.” “We were able to speak to a big chunk of early customers about what they were needing from the community platform,” Yadav said. It also launched several new features in 2021, including discussions, livestreaming, events capabilities and payments - features customers had been requesting. It also now has 40 employees, growing from 15 at the beginning of the year. The creator movement is entering prime time, and so is Circle with a fresh $4MĪlong with that recent growth, Circle just crossed over $4 million in annual recurring revenue, up from $1 million a year ago. Over the last few months, Yadav said the company got signals that product market fit was there, which put levers in motion for Circle to move faster as the community space began getting competitive. This is a jump from a $40 million valuation from the February seed round. The latest investment gives Circle $200 million in post-money valuation. Circle powers his GrowthDay community for over 300,000 members, Yadav said. In addition to the investment, Burchard joins as an advisor to the company. The round was led by Tiger Global, with participation from Box Group, Notation Capital and a group of individual investors including, Brendon Burchard, Adobe’s Scott Belsky, Codecademy CEO Zach Sims, Front CEO Mathilde Collin, Teachable CEO Ankur Nagpal and Menlo Security’s David Eckstein.

Investors continue to see the value and injected $24.7 million in Series A funding, Circle announced today. Image Credits: CircleĬircle now has over 4,000 paying communities, paying subscriptions averaging $40 to $400 per month, that in total have 2 million members, Yadav said. Circle's co-founders, from left, Sid Yadav, Rudy Santino and Andrew Guttormsen.

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