Here’s an exclusive look at the pitch deck Y Combinator-backed Bloom, a community-building app for queer and non-monogamous people, used to raise $2.5 million
This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.
- Bloom Community helps queer and ethically non-monogamous people build communities.
- On the app, users can attend events like happy hours and hikes, join communities, and go on dates.
- The Y Combinator-backed startup recently raised a $2.5 million seed round, led by Tuesday Capital.
Bloom Community, a startup that helps queer and ethically non-monogamous people build communities, has raised a $2.5 million seed round led by Tuesday Capital.
According to founder and CEO Luna Ray, Bloom serves “edge-of-culture communities” that have typically been overlooked by traditional social and dating apps.
“If you look at what types of communities are generally less understood by mainstream tech, ones that are at the boundary of culture are definitely in that group,” Ray said. “But increasingly there’s a lot of other types of groups that fit in that broadly ‘edge-of-culture’ space. So creative groups, kink groups, ethically non-monogamous people, and that’s where we focused.”
Ray is very clear that Bloom is more than a dating app, and explains that the app replaces community spaces like churches or bars that people have historically used to meet other like-minded individuals. Through Bloom, users can go on dates, attend events like festivals or happy hours, and meet people with similar interests.
“Some of our most popular events are actually what you wouldn’t expect,” Ray said. “They’re the basic happy hours, the hiking meetups, the beach meetups, the social hours, they’re these casual hangouts that are replacing the church or the bar.”
Although Bloom targets a subsection of the population, Ray says that the app’s market size isn’t trivial, and will continue to grow as younger generations become more accepting of nontraditional lifestyles.
Additionally, because Bloom offers non-dating events and serves ethically non-monogamous people, who remain on the app after acquiring a partner, Ray says that the app has seen a 90-day retention rate of 60%, higher than traditional social and dating apps like Instagram or Tinder.
Although Bloom doesn’t monetize today, Ray told Insider that the app is looking into adding paid premium features, like the ability to return to a rejected match, in the future.
The startup, which was borne out of Y Combinator’s famed accelerator program, recently raised a $2.5 million seed funding round, led by Tuesday Capital with participation from Precursor Ventures, Behind Genius Ventures, and other angel investors.
Ray said that investors were drawn to Bloom due to its uncommon focus and less crowded competitive landscape, and the startup was able to close its seed round before the recent market downturn.
Bloom plans on using the seed funding to expand to new markets, as the app plans to launch in Portland and Seattle in October, and to improve its software.
Here’s an exclusive look at the 14-slide pitch deck queer and non-monogamous community app Bloom Community used to raise $2.5 million in seed funding from Tuesday Capital.