Total amount raised
$3.3 Million
Latest funding date
7/1/2017
Location
Rabbit has participated in three funding rounds, with its latest being a Series B round. The platform, which allowed users to watch streaming shows and videos together with friends, has garnered support from six investors, including Bessemer Venture Partners and Goodwater Capital.
Despite the obfuscation of specific financial details, Rabbit's journey through multiple funding rounds highlights its appeal to investors. Keep reading to explore the intricacies of Rabbit's fundraising journey and the investors backing this innovative platform.
What Is Rabbit?
Rabbit was a platform that allowed users to watch streaming shows and videos together with friends, facilitating social interaction while consuming media. The company was based in Burlingame, California, and had a small team of 11-50 employees.
Operating in industries such as apps, media and entertainment, social media, software, TV, video chat, and video streaming, Rabbit managed to secure funding through multiple rounds before it permanently closed.
How Much Funding Has Rabbit Raised?
- Seed Round
- Amount Raised: USD 3,300,000
- Date: February 2013
- Lead Investors: Google Ventures, CrunchFund, Michael Birch
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in engineering and ensure the app could handle user demand and provide a seamless experience.
- Series A Round
- Date: May 2015
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's features and user base.
- Series B Round
- Date: July 2017
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and enhance user engagement.
Total amount raised: USD 3,300,000. Current valuation: Not publicly disclosed.
Key Investors
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a prominent venture capital firm that invests in early to growth-stage companies. They have a long history of successful investments in various sectors.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: LinkedIn, Shopify, Pinterest
- Goodwater Capital
- Details: Goodwater Capital is a venture capital firm that focuses on consumer technology companies. They aim to support companies that have the potential to impact large markets.
- Investment Focus Areas: Consumer technology
- Notable Investments: Spotify, Chegg, Kakao
- Google Ventures
- Details: Google Ventures, now known as GV, is the venture capital investment arm of Alphabet Inc. They are known for their investments in innovative technology companies.
- Investment Focus Areas: Technology, software, hardware, life sciences, clean energy
- Notable Investments: Uber, Nest, Slack, Medium
- CrunchFund
- Details: CrunchFund is a venture capital firm co-founded by Michael Arrington, the founder of TechCrunch. They focus on early-stage technology startups.
- Investment Focus Areas: Internet, software
- Notable Investments: Airbnb, Uber, Yammer
- Michael Birch
- Details: Michael Birch is an entrepreneur and the founder of Bebo, a social networking website. He has a history of investing in social media and technology startups.
- Investment Focus Areas: Social media, technology
- Notable Investments: Bebo
What's Next for Rabbit?
Rabbit's future holds significant promise, driven by the growing interest in video chat applications. The platform's unique always-on model and media-sharing capabilities present substantial opportunities for user engagement and differentiation from competitors. As the user base expands, Rabbit is well-positioned for future investment rounds, leveraging its initial success and positive reception.
However, challenges remain. Convincing users to adopt the persistent video chat model and competing with established services will be critical hurdles. Ensuring scalability and reliability as the platform grows will also be essential. Despite these challenges, Rabbit's innovative approach and strong investor backing suggest a bright future ahead.
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