Italian social platform Waveful raises €1.8 million to create authentic human connection through shared passions
Milan-based Waveful, a community platform for making friends online, announces a €1.8 million Seed investment round in order to expand to the US, develop their offering, and expand their team.
Key investors include a16z Speedrun, Andreessen Horowitz’s programme dedicated to consumer and gaming apps worldwide, Italian Angels for Growth (IAG), Vento Ventures, Zest, Vesper Holding, and a selected group of Italian and American angels including Andrea Ruosi, Vito Lomele, Nick Swift, Simone Cimminelli, Tommaso Tosi, Vincenzo Alagna, Omar Bertoni, Andrea D’Aietti, and Jesse Chor.
“Being selected by a16z Speedrun as the only Italian company and becoming the startup with the highest growth within the programme was an incredible recognition, both for the team and for the vision we have built from the start.” says Steven Motta, CEO and Co-founder of Waveful. “This round provides us the resources to accelerate our expansion in the United States, invest in AI-first technology, and attract new talent. But above all, it represents a decisive step toward achieving the goal that drives us every day: becoming the number one community platform in the world.”
Founded in 2020 by Steven and Dennis Motta, Waveful is a social platform that looks to help people create authentic connections through shared passions. In a world where loneliness is increasingly widespread, Waveful aims to build digital spaces for making new friends and meaningful communities.
According to data provided by the company, in less than six months, Waveful has reportedly surpassed three million downloads, registering monthly growth over 200% in the past year and reaching over one million dollars in sales entirely through a B2C model.
The raised capital will be used to further strengthen presence in the United States, aiming to reach half a million American users within twelve months and to enhance the product with new AI-based features, reinforcing Waveful’s positioning as a cutting-edge social platform.
Concurrently, the team will be expanded with the addition of 4-6 new roles over the next three months, primarily in engineering, growth, and marketing.
“We believe that the next generation of social apps will shift from monetising attention to becoming creator and fan marketplaces, where creators can monetise their efforts directly. Waveful is building this future, and we’re excited to support them on their journey forward” commented Robin Guo, Investment Partner at a16z.
During a16z’s Speedrun programme, Waveful stood out as the fastest-growing company and the only fully Italian startup, with its Founders also being the youngest in the selected batch.
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