Yubo, a Paris, France-based social platform where young people between 13 and 25 create communities of friends around the world, raised $12.3m in funding.
The round was led by Iris Capital and Idinvest Partners, alongside historical investor Alven, Sweet Capital, and Village Global.
The company intends to use the funds to expand internationally into new regions and accelerate the further technological development of the social platform.
Built by Sacha Lazimi, Jérémie Aouate, and Arthur Patora,
Yubo lets users create live video discussion spaces where both streamers and viewers interact through a live chat. The social network currently has over 25 million users, (mainly in the in the USA and Canada, the United Kingdom, the Nordic countries, Australia and France), with tens of thousands of new members joining the community every day.
To support growth, they will hire 35 new staff members in the next 6 months.