Hunch is a social media app that allows users to create and participate in polls on various topics, ranging from pop culture and gaming to finance and dating. The app, which was launched in 2022, has recently raised $23 million in a Series A funding round led by Alpha Wave and Hashed Emergent, two prominent venture capital firms. The startup plans to use the funds to expand its presence in the US and India, as well as to improve its technology and user experience.
What is Hunch and how does it work?
Hunch is a social media app that aims to foster meaningful conversations and connections among users who share similar interests and opinions. The app lets users create polls that attract votes and comments from other users, as well as browse and join polls created by others. The polls cover a wide range of categories, such as politics, sports, relationship advice, anime, and more. Users can also follow their favorite topics and creators, and discover new ones based on their preferences.
Hunch claims to have over 1.15 lakh polls, attracting more than 1 crore opinions through user votes across the nation. The app also boasts of a high level of user engagement, with about 15% of the user base creating polls and 40% of the user base actively commenting on them. The app currently has about 220,000 monthly active users (MAU), with 85% of them being in India and the rest in the US. The majority of the users are in the 18-26 age group, who are looking for a platform that promotes being real and authentic, without the filters and pressures of other social media apps.
How will Hunch use the funds and what are its future plans?
Hunch has raised $23 million in a Series A funding round led by Alpha Wave and Hashed Emergent, two venture capital firms that have backed several successful startups in the past, such as Spotify, Snapchat, Discord, and Coinbase. The funding round also saw participation from existing investors, such as Sequoia Capital India’s Surge, Y Combinator, and Pioneer Fund.
The startup will use the funds to strengthen its tech infrastructure and improve its feed personalization, using artificial intelligence and machine learning. The startup will also invest in marketing and user acquisition, especially in the US market, where it sees a huge potential for growth. The startup aims to scale up to the low single-digit millions of MAUs in the next 12 months, with ideally about 40% to 50% of that user base coming from the US.
Hunch’s cofounder and chief executive, Ish Goel, said in a statement that the firm is looking to build a format that encourages participation and expression among users, and to create a community that validates their opinions and connects them with like-minded individuals. He also said that the firm is working on rolling out a verification feature on the platform in the near future, to ensure the safety and quality of the content and the users.
Why is Hunch attracting investors and users?
Hunch is one of the few social media startups that has managed to raise a significant amount of funding in a competitive and crowded market. The startup has impressed the investors with its unique value proposition, its user engagement, and its growth potential.
Tak Lee, chief executive and managing partner at Hashed Emergent, said that consumer social space expects a rejig every few years, and Hunch is poised to drive that change. He said that with fatigue growing among Gen Z around apps that promote vicarious living, there is a big opportunity to build something that promotes being real without the filters.
Anirudh Singh, partner at Alpha Wave, said that Hunch is building a new way for people to express themselves and connect with others online, through polls and opinions. He said that the app has a strong product-market fit, a passionate user base, and a visionary founding team.
Hunch is also attracting users who are looking for a different and fun way to interact with others on social media, without the fear of judgment or criticism. The app allows users to be anonymous, which gives them the freedom and confidence to share their honest opinions and feelings. The app also helps users to discover new topics and people that match their interests and preferences, and to learn from the perspectives of others.
Hunch is a social media app that is redefining the way people create and participate in polls and opinions. The app has raised $23 million in a Series A funding round, and plans to expand its presence in the US and India, as well as to improve its technology and user experience. The app is attracting investors and users with its unique value proposition, its user engagement, and its growth potential.
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