Peanut, which just secured $5 million in funding, has tapped into an underserved demographic by striving to connect moms through its social network:
While the Tinders and Bumbles of the world are successful at matching individuals socially, romantically and professionally, there is one demographic that has been grossly underserved: moms. This is what Michelle Kennedy, who helped launch Bumble, discovered when she became a mother five years ago.
The “Trying to Conceive” community offers women a secure platform to share their respective experiences with infertility, alternatives to pregnancy and miscarriages. “No woman should ever feel lonely, isolated or muted on such important issues,” added Kennedy. The Peanut app, which officially launched in early 2017, was originally created to match like-minded moms. Users can “wave” to one another by swiping up, or skip the profile by swiping down.
"The mechanisms and user experience we are using to build Peanut are very different from other social networks as this is tailored to a woman's experience,” said Kennedy. “We don't believe the same platform an 18-year-old boy uses to sell his new Yeezys is the exact same platform a woman who has just suffered a miscarriage should turn to for support. Our platform is about building long-term trust, engagement and relationships and is therefore not transactional.
Beyond the glitz and glamour of Hollywood, moms have convinced the VC community that motherhood is a viable bet. Top tier investors like New Enterprise Associates , Greycroft and Sound Ventures backed Peanut’s vision at the seed stage. Across the pond, London-based Index Ventures just joined the roster by injecting $5 million into the startup.
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