Two college kids raise a $5.1 million pre-seed to build an AI social network in iMessage
Series, a social networking app, announced that it raised a $5.
1 million pre-seed round, with investors including Venmo co-founder Iqram Magdon-Ismail, Pear VC, Reddit CEO Steve Huffman, and GPTZero founder Edward Tian.
Series considers itself to be a next-generation social networking platform, rather than an AI app, and hails itself as one of the first to work entirely through iMessage, Johnson, the CEO, told TechCrunch.
Each carousel card includes a person’s photo and their ask, and users can press and hold the carousel photo to start a private conversation with another user in the Series AI chat, without sharing their personal number.
He sees the industry undergoing a massive technology shift from user interfaces to conversation interfaces, like from Google search to ChatGPT, “where you’re used to scrolling through libraries and clicking on websites versus conversing with AI or something else to quickly identify what you’re looking for. ” Johnson and Hargrow met while working on a podcast in their freshman year at the Yale Entrepreneurial Society. Johnson said they used to interview founders and CEOs to gain insights into building a successful business, and through those conversations, “realized the power of warm connections. ” “We then proceeded our freshman summer to start a business independent from the club and incorporate a company around that same thesis, using AI as a warm connection facilitator,” Johnson said.
Johnson and his team decided to make a now-viral LinkedIn video about the launch of Series.
Two days later, they met their first investor.
Most people use it for business reasons, Johnson said, though they have seen others use it for dating or to find friends.
“Students use Series across more than 750 campuses,” he said.
“Activated users on Series retain at 82% through Day 30, higher than early Facebook’s benchmark.
” Others in this space include Boardy AI, which also uses AI to foster network introductions.
Series’ fresh capital will be used to hire more engineers and expand product capabilities.
“We have built an initial network for Series amongst the Ivy League and more prominently, schools in the East Coast. Also, we have a strong belief in Silicon Alley,” Johnson said of the decision to stay East, matching a trend of young consumer founders picking New York over Silicon Valley. Notably, he and Hargrow have not dropped out of college.
He didn’t drop out, he said, because he felt he had time to both study and run a company.
“Your extra time outside of your supposed obligation can be used to catapult what you’re truly meant to do,” he said. “People are often so scared to make use of their extra time
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