Meet You, a Chinese app for period tracking and female community, announced today US$35 million in Series C funding led by SIG and followed by Matrix Partners China and China Renaissance K2 Ventures. With all funds now in position, they will be injected in the construction of team and its female community, the company added.
So far the startup has raised three rounds in about a year: millions of dollars of Series A financing in June 2013, and US$15 million in Series B led by Matrix Partners China and followed by founding team of the company.
Meet You started the business as a menstruation period tracing app and gradually shifted its focus to constructing a female community, where users can discuss and share tips on various topics, like parenting, fashion, keeping fit, relationships, etc.
Launched in April 2013, the app now claimed more than 50 million registered users with over 3.5 million active users.
Meet You is expected to commercialize its service by the end of this year with an innovative business model, said Eric Xu, board member of SIG.
Dayima, a direct competitor of the company, also announced US$30 million of Series C funding recently.
Female health tracing apps are more and more commonly used in China. According to stats from research institution Analysys, the monthly active users of similar female health tracking apps exceeded 9 million. But the competition in the arena is becoming fiercer. In addition to major players like Meet You and Dayima, a lot of new startups also set eye on this field, such as fertility app Xiaohuasheng. Glow, an U.S. fertility app, is also preparing to tap Chinese market.
image credit: Meet You