San Francisco-based company, Product Hunt, has raised a USD 6.1 million Series A funding from Andreessen Horowitz, with participation from Reddit co-founder Alexis Ohanian. The new funds are expected to be used to roll out features including re-designed user profiles and the ability to “follow” members of the community as well as expand its product discovery model into games, music, fashion, TV and movies.
Product Hunt is a place for surfacing new products, latest mobile apps, websites, hardware projects, and tech creations. The company was founded last year in November by Founder Ryan Hoover, currently valued at USD 22 million.
Recently, it had secured USD 1 million in Seed investment and backed by 18 investors. Till date, the firm has received a total funding of USD 7.1 million including the latest round. Post this investment, Steven Sinofsky, board partner at Andreessen Horowitz, will join Product Hunt’s board of directors.
As per WSJ Blog, a product that gained early notoriety on Product Hunt was the simple-messaging app Yo, which earned raves on the site weeks before it emerged more broadly via social media and tech blogs.
The company also stated that Founders have started exclusively launching their products on Product Hunt because of its ability to provide an unfiltered connection with an influential community.
in August this year, Andreessen Horowitz had also invested USD 50 million in a media company, BuzzFeed focused on delivering reporting, and viral content across subject areas.Category Business Investments Startups