Four years after becoming a unicorn, Kavin Bharti MittalNetworking and gaming platforms Growth has raised a new round of funding in a round led by the co-founder of tinder, Justin Mateen.
While the company did not disclose the amount of funding or the current valuation, the round saw participation from other marquee angels including Tinder’s founder, Sean Rad, SoftBank’s Rajeev Mishra, Tribe Capital’s Arjun Sethi, Zeta’s Bhavin Turkhia, Credit’s Kunal Shah Viewed. , Flipkart co-founder Binny Bansal, Snapdeal’s Kunal Bahl and Rohit Bansal.
This fund will be deployed to expand on product strategy in addition to all hiring operations. The company operates a fully remote cross-functional team of over 160 employees. It plans to hire another 25 executives in the social, gaming and crypto segments.
“The rapid technological advances over the past few years have given way to massive disruption in social and gaming. There is little to separate these two categories. Gaming has now become inherently social, for people virtual Evolving as a new way to travel and interact with the world,” said Kavin Bharti Mittal, Founder and CEO, Hike.
“We are creating new ways for people to express themselves online, new ways for them to hang out online. More importantly, we are creating new ways for people to participate in the networks they help build, in ways that were not possible before. The next decade is set to usher in a new social future and we are very excited to contribute to this future.”
Earlier in 2021, the nearly decade-old company spun off its chat services to focus on Rush, a gaming app, and Vibe by Hike, a networking platform.
In 2019, it also invested in other esports platform WinZO Games.
Hike was given the unicorn tag in 2016, when Chinese Internet giant Tencent led a $175 million round. Valued at $1.4 billion, it was one of the fastest companies to achieve unicorn status.
Other investors who participated in that round included SoftBank Group, Tiger Global Management and Bharti Enterprises.
Hike founder and CEO Kavin Bharti Mittal is the son of Sunil Mittal, chairman of telecom giant Airtel.
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