Community Networking Platform, hOp, Secures $8 Million in Series A Funding
Investment will aid the social-networking-as-a-service startup in expanding workforce by 50% in the launch of new strategic distribution relationships and in the expansion of the hOp patent portfolio.
AUSTIN, Texas, July 16, 2021 (Newswire.com) - Community platform hOp, built to decentralize social networking and foster authentic community, announced today that they have raised $8 million in Series A. The round was led by Neil Ramsey of Qubit PE.
"The time for authentic community is now, the way forward is decentralized, vertical-based community, and these guys are doing it."
"hOp's approach to a decentralized social platform is going to revolutionize the way we create community for the better." - Neil Ramsey, Series A Lead Investor
Since its launch in 2015, hOp has pioneered Social Networks-as-a-Service (SNaaS) by connecting residents in the multifamily real estate market, providing a platform for apartment residents to connect, ask for favors, swap goods, vote on community matters and more. Within this model, hOp also provides local businesses with free, in-app advertising opportunities shown to nearby app users. In 2020, hOp announced API integrations with three major property management softwares: Yardi, RealPage, and Entrata, providing an even more impactful solution for residential apartment managers.
"We are energized by this support to help more people gain the tools to facilitate and measure authentic community." - Chris Peifer, Co-Founder/CEO
hOp plans to put this round of funding to use by investing in their intellectual property with the filing of more patents (of which there are currently three), pursuing a hiring goal to increase their workforce by 50% by the end of 2021, and expanding the number of hOp powered social networks via several strategic distribution relationships.
The company previously raised several rounds of Seed capital, which brings the total raised to just over $19 million.
About hOp
Founded in 2015, hOp is a Community-as-a-Service platform where your message is heard and your community is safe. hOp provides a private social network where community members connect with their neighbors and local merchants without disclosing personal identifiable information. Our mission is to give the ownership of community back to the people who built it.
We provide your members with organic avenues to become invested in the community you've curated by helping each other; we call it a hOp. Access thoughtfully curated analytics and insights to drive deeper, more meaningful community participation by leveraging our community-building experts and automated tools.
With each hOp, we turn positive experiences into positive reviews, learn about what motivates and excites your community, and help you retain your members by turning them into community advocates.
Anna Epps, Sr. Marketing Strategist at hOp
marketing@hop.life
Learn more about hop on our website at hop.life.
Source: hOp