Yubo, the Paris-based social discovery platform for Generation Z, has raised $12.3 million fundraising round led by Iris Capital and Idinvest Partners, along with existing investors Alven, Sweet Capital, and Village Global.
Created by Sacha Lazimi, Jérémie Aouate, and Arthur Patora and launched in 2015, Yubo is designed for young people between 13 and 25, who can stream live videos during which both streamers and viewers interact through a live chat. The company calls it a “secure discussion platform” that values sharing and authenticity, rather than the algorithmic approval and influencer hierarchies of other social networks.
With a global moderation team, algorithms to flag inappropriate content, and a Safety Board comprised of experts in online safety for youth, Yubo seems serious about maintaining a healthy, protected digital space.
So far the app has attracted over 25 million young people worldwide, though predominantly in the US, UK, and Australia. Yubo will use the fresh funding to expand into new regions and continue product development. To support such growth, the French company will hire 35 new staff members in the next six months, growing its total headcount to 50 people.
“Yubo is a response to a fundamental need of Generation Z: socializing and creating friendships in the digital world in the exact same way as in real life. This funding round will let us reach new technological milestones and further our international footprint. We are especially proud that such recognized funds have granted us their confidence and backing to support our ambitions: becoming the world-leading social platform, born in France and based on European standards” commented Lazimi, Yubo CEO.
Christian Dorffer of Sweet Capital said: “We’re excited about Yubo’s potential to become the leading platform for teens and young adults to express themselves, socialize and learn from their peers. We believe mobile will play an increasingly important role in the lives of this segment and Yubo’s model, including safety features, makes it one of the most exciting mobile companies at the moment.”
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