Today anonymous messaging startup Yik Yak announced $10 million in Series A funding to facilitate its accelerated growth.
This $10 million in funding follows the $1.5 million received in April, all of which will be used to develop the app infrastructure, hire new engineers and “bring the app to virtually every college campus by the end of the year.”
“We’re seeing serious growth in our engagement rates — indicating a significant demand for localized, private interactions among mobile users of college age and older,” Tyler Droll, co-founder and CEO, said in a statement. “In order to continue scaling and advancing the Yik Yak experience, we need to build a bigger team. This new funding will allow us to do that.”
Anonymous messaging apps like Yik Yak have been criticised recently for their potential to enable cyber-bullying. However, Yik Yak has taken a pro-active approach by restricting access around middle schools and high schools. Anyone trying to access the app in restricted areas receives a message noting that Yik Yak is intended for college students.
The vision for Yik Yak seems to be to enable the sharing of truth “unfettered by identity.” Co-founder and COO Brooks Buffington says the startup is at the center of a shift in social networking to private and unfiltered communication.
“Yik Yak’s mission is to revolutionize the idea of a live stream and provide a forum that opens new opportunities for communication and interaction from any point in the U.S. and worldwide,” Buffington said.