Location-sharing app Zenly has raised $22.5 million in Series B funding. Benchmark led the round with participation from other investors that included Jerry Murdock of Insight Venture Partners. In addition to the funding, Peter Fenton of Insight Venture Partners has been added to Zenly’s board.
French start-up Zenly, the location-sharing app, announced it closed $22.5 million in a Series B funding led by Benchmark, with participation from Jerry Murdock of Insight Venture Partners and earlier investors, including Xavier Niel and Idinvest.
Launched in January 2015, Zenly is the social networking app built for seamless and precise location sharing. The app, which currently has two million users in 186 countries, provides a platform for users to socialise with friends and family whilst simultaneously sharing locations.
The $22.5 million in funding raised through this Series B round will go towards opening a new San Francisco office to expand the platform’s global reach and will support recruitment efforts in product development.
“It’s been amazing to see so many people connecting with each other on our platform, both chatting in the app and using it to meet their friends in the real world,” said Alexis Bonillo, Co-Founder and COO, Zenly. “We are thrilled to share that we’ve closed a $22.5 million Series B financing in 28 days, led by Benchmark, to help us continue our mission of making the map the epicentre of social interactions.”
Peter Fenton of Benchmark will join the Zenly board, and will bring proven expertise in the social-application space to the company. Fenton is a board member of Twitter and has previously invested in social media companies.
“We were immediately won over by the team’s wealth of technical expertise and their vision for the map as a basis for a vast array of social engagement,” said Peter Fenton, General Partner, Benchmark. “Being able to see where your friends are and who they are with opens up a world of product opportunities, and if executed successfully, Zenly could be one of the iconic companies of our lifetime.”
Insight Venture Partners co-founder Jerry Murdock has also invested personally in this Series B round and said, “I love Zenly because it gives me a new context in which to have a conversation, but I invested in the company because of Antoine and Alexis’ complete vision. It is quite rare to meet entrepreneurs who possess equal amounts of thoughtfulness and passion.”
This Series B financing follows a successful Series A round in May 2016 in which Zenly raised $11.2 million.