Parentune.com, an online social networking platform for parents, has announced that it has raised an undisclosed amount in its second round of funding from existing investor Kae Capital Management (P) Ltd.
Along with Kae Capital, the funding round also saw participation from Singapore-based Segnel Ventures Pte Ltd. The capital raised would be utilized to upgrade technology and launch the network in Hindi and other regional languages.
The company has not revealed any financial details of this round. Prior to this round, the start-up had secured around $500,000 in funding in 2014 from early-stage venture capital firm Kae Capital.
Talking about this investment, Nitin Pandey, founder of Parentune.com said,
We have raised this round of funding to continue building a highly personalized support (platform) for parents, with technology, data and intelligence at the centre of Parentune’s scale-up.
Founded in November 2012, Parentune is an online community of parents for real-time advice and support through its website, mobile site, and app. The platform helps parents connect with like-minded parents, access useful applications, and find relevant information validated by fellow parents or experts.
The start-up claims that each parent on Parentune is verified and has real-time access to personalized content and support relevant to their child’s age. It also claims more than 3 million sessions take place every month across its website, mobile website and the app. The company recently crossed the one million verified parents milestone.
Further, as per the company, the Parentune Mobile App is growing at a pace of over 50% month-on-month, mainly through parents’ referrals and word-of-mouth on social media. The app is spearheading the company’s growth and has a user engagement of over 9-10 minutes per session.
In recent times, many startups have launched a social networking platform targeted towards parents. Last year, BabyChakra raised Series A funding to enhance its social parenting platform. Other such platforms, such as Parentlane and Tinystep, have also raised funding for expanding their technology and operations.