With a $1.5bn valuation, KSU, the company behind the hit app, Tinder, has raised $1bn from a group of investors.
The money will help KSU to continue building its technology, while also taking it further into the digital world, according to a release.CEO Daniel Kucera said the company was able to secure the $1b to help make Tinder a reality and expand its presence in new markets and markets across the world.
“Tinder is a phenomenal platform that has been adopted by millions of people, and we’re thrilled that it has made so many people’s lives easier,” he said in the release.
“The fact that we’ve raised this kind of money to continue this incredible journey with the platform and to help it expand further, speaks volumes about the incredible potential of this platform.”
While Kuceria’s firm is known for its work on Tinder, which was launched in 2011, he said that the company would also use its new money to hire a new chief technology officer.
“We’ve hired the right person, we’ve built a great product, and now we’re building the platform that we want to take it to the next level,” he added.
Kucera was speaking after launching a new advertising campaign to raise awareness of the app.
“As a startup, it’s important that we are careful to never get ahead of ourselves, to never think we’re doing anything new,” he told the BBC.
“But we think the company that we’re creating and the technology that we built with the help of these investors will change the way that people think about and interact with the digital landscape.”
The company, which aims to make dating apps more personal and more efficient, launched in 2014 and now has more than 10 million users.
Its apps include the dating app Tinder and the dating site OkCupid.
It also provides a variety of other services including travel advice, and news updates.