Anonymous social media firm attracts $37m in series C funding

Team Blind, the operator of anonymous social network platform Blind, has raised $37 million won in its latest funding round, picking up the pace to go public in the US stock market, the company said on Tuesday.

Blind has more than 5 million users who spend an average of 40 minutes a day. In Korea, 85 percent of employees working for companies with 300 workers or more have joined the social media.

In the US, the platform is often used as a venue to discuss workplace topics, such as job openings, salaries and corporate culture. Employees of most high-profile tech firms in the US, including Amazon, Microsoft, and Apple, subscribe to the platform.

“Team Blind will utilize the new fund to try to advance its goal to make its debut on the Nasdaq market by 2025,” the company said in a statement.

Among the participants of the latest series C funding are Team Blind’s existing investors, Storm Ventures and DCM Ventures, as well as new ones, including Mainstreet Investment, Cisco Investments, and Pavilion Capital.

“Blind is the only platform that meets the need for communication among employees, particularly, during this pandemic era,” said Osuke Honda, general partner of DCM Ventures.

Team Blind, founded in 2013, is headquartered in Silicon Valley in a bid to infiltrate the global market. It is currently expanding its services in other countries, including Canada and India.

By Kim Young-won (wone0102@heraldcorp.com)