nextSociety Raises $700k Seed Funding for Activity-based Networking Tool, Prepares for SXSW

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The seed round, facilitated by angel investors and executives, marks a successful milestone for nextSociety in enabling the startup to add additional talent and to bring its innovative and activity-based networking tool to market. nextSociety adds new improvements to its beta tool on a weekly basis and will present its next accomplishments at SXSW Interactive Startup Spotlight in Austin, Texas.

nextSociety successfully raised $700k in seed funding to build a state-of-the art networking tool for professionals.

nextSociety successfully raised $700k in seed funding from business angels, as well as two small funds, to build a state-of-the art networking tool for professionals. The startup is now working to present its networking tool at SXSW Interactive.

For busy professionals, building and maintaining meaningful relationships on largely populated social media platforms such as LinkedIn, Facebook and Twitter can become time-consuming and inefficient. To manage daily tasks, stay on top of requests, and continue being proactive within a social network is overwhelming. nextSociety’s new vision aims to filter relevant connections within a busy professional’s network, suggesting the most effective networking to-dos. nextSociety recently added two new talented software engineers to their team to execute this vision.

Co-founder Dr. Peter Stebe says, “Our seed investors are all busy professionals themselves with large networks and are extremely impressed by the high caliber team we have formed to rethink traditional networking."

As a testament to how much demand there is among business managers and professionals since presenting the company's approach at TNW Mobile Startup Rally in October, nextSociety’s Co-founder Alexander Tange reports almost 2,000 pre-signups within a few weeks and is now seeing 12% of new user growth each week for the unpromoted beta app. Working professionals use the tool to find out who in their network to talk to e.g. for professional expertise, for an upcoming career move, who is around to meet on a trip, or simply to see what their most relevant connections are up to.

The development team, located in Vienna, Austria and headed up by co-founder Ben Simsa, is working hard to implement features that will improve professional networking in a business world transitioning to mobile apps. Ben says that the big focus is their algorithm, powering relevant search results and eliminating user friction. The next milestone will be marked by nextSociety’s presentation at SXSW Interactive Startup Spotlight in Austin, TX in March when the company will reveal the next features of its mobile app, available for Android and iPhone.

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About nextSociety, Inc.
The early stage startup focuses on making professional networking efficient by building the ultimate networking tool that unlocks the full potential of users’ connections. The company is incorporated in Delaware, headquartered in New York City and opened their development hub in Vienna, Austria in Summer 2013 that assembles all of their engineers under one roof. nextSociety presented their new approach to professional networking at the TNW Mobile Startup Rally in New York in October 2013. They also have been named TechStars finalist in New York and London and are a member of the Rackspace Startup program.

Alexander Tange
nextSociety, Inc.
+1 646-580-7347

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Alexander Tange
nextSociety, Inc.
+1 (646) 580-7347
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