News Feed Item

Blend Secures $2.7 Million Seed Round

Funds to be Used to Enhance Team and Grow New Social Network for Millennials

SAN FRANCISCO, March 5, 2014 /PRNewswire/ -- Blend, a new college-exclusive mobile app, announced today it has secured a $2.7 million seed funding round led by New Enterprise Associates (NEA), with additional participation from Trinity Ventures, Foundation Capital, Lerer Ventures, Maveron, BoxGroup, XG Ventures, and SparkLabs Global Ventures. The funding from this round will be used to triple the size of Blend's team and transition the current beta product to a full-fledged social network.

"During our time at college, we saw a need and potential in the market for a new social network that understands today's collegiate experience, with more exclusivity and additional perks, such as Blend Gifts," says Akash Nigam, CEO and co-founder of Blend. "Our focus in 2014 is to dramatically increase interactivity between our users and release two game-changing features, before pushing to additional communities."

Blend, founded in 2013, is a social app available exclusively to college students. The model is "Share, Snap, Score" - students share photos based on the Blend theme of the day, earn Snaps or 'likes' on their photos from their peers, and use Snaps as "social currency" to score Blend Gifts, such as products and gift cards from popular brands. Blend is very selective and solely partners with trendy, college-relevant companies. Since October, Blend has partnered with over 200 brands. Some perennial favorites include Uber, Chegg, Rowdy Gentleman, Fraternity Collection, and Alex & Ani.

"We are excited to be a part of what we believe is indicative of the next trend in social media: highly curated, theme-based user generated content shared within a specific network," said Kittu Kolluri, General Partner at New Enterprise Associates. "The Blend team has already found a remarkable way to engage a highly sought after demographic—college students—and we are excited to see this journey evolve."

"Facebook introduced the world to social networking, but it didn't maintain its focus on its core base," said Ajay Chopra, General Partner at Trinity Ventures. "Blend was similarly created by students to fill the significant gap between a first generation social network and what students demand today. Its singular focus is the college audience."

Prior to this round, Blend received support from incubator Digital Catalyst Fund and is currently a five-person team based in Silicon Valley. After launching its beta in late October at the University of Michigan, Blend has gained over 50,000 daily active users through word of mouth. Blend is available to all Universities within the United States, except for Ohio State.

About Blend
Founded in 2013 by Akash Nigam, Matt Geiger, and Evan Rosenbaum, Blend's mission is to create the new way for millennial communities to interact and relate. It's as simple as "Share, Snap, Score" - Share your college experiences to the theme of the day, earn Snaps (likes) on your photos from your peers, use Snaps to score Gifts (gift cards and product) from the hottest brands. Blend is currently available to over 3,500 universities. More information can be found at www.blend.la.


More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
Daniel Jones is CTO of EngineerBetter, helping enterprises deliver value faster. Previously he was an IT consultant, indie video games developer, head of web development in the finance sector, and an award-winning martial artist. Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams.
JETRO showcased Japan Digital Transformation Pavilion at SYS-CON's 21st International Cloud Expo® at the Santa Clara Convention Center in Santa Clara, CA. The Japan External Trade Organization (JETRO) is a non-profit organization that provides business support services to companies expanding to Japan. With the support of JETRO's dedicated staff, clients can incorporate their business; receive visa, immigration, and HR support; find dedicated office space; identify local government subsidies; get...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science" is responsible for guiding the technology strategy within Hitachi Vantara for IoT and Analytics. Bill brings a balanced business-technology approach that focuses on business outcomes to drive data, analytics and technology decisions that underpin an organization's digital transformation strategy.
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
Containers and Kubernetes allow for code portability across on-premise VMs, bare metal, or multiple cloud provider environments. Yet, despite this portability promise, developers may include configuration and application definitions that constrain or even eliminate application portability. In this session we'll describe best practices for "configuration as code" in a Kubernetes environment. We will demonstrate how a properly constructed containerized app can be deployed to both Amazon and Azure ...
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...