Circles, a platform for online group emotional support, announced in May that it raised $16.5 million in funding in a Series A round along with existing investors NFX, Flint Capital, and Sir Ronald Cohen.
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"The funds will be used to support the company's growth through scaled R&D efforts to improve group matching algorithms and expansion of its offerings," the company said.
Circles is a subscription-based platform where people experiencing similar life challenges such as divorce, grief, infertility, etc. are matched into cohorts and meet weekly via group video chat to give and receive emotional support, guided by trained and vetted mental health professionals.
"Circles supports thousands of members across the U.S. with hundreds of groups. The platform launched in 2020, and in the last half of 2021 alone the number of paying members has increased by 500%, with the company recruiting four times the amount of mental health professionals to facilitate the growing increase in the new groups," the company said in a statement.
