Fishbowl Raises $5.3 Million To Expand Its Professionals Social Network

Fishbowl Raises $5.3 Million To Expand Its Professionals Social Network 

by NeoTech Post

Fishbowl, a social network that connects professionals within the same industry or company, enabling them to have candid and relevant conversations about workplace topics, raised $5.3 million in a Series A funding round. 

GGV Capital led the funding round, with participation from Alex Zhu, Head of TikTok. As part of the funding, Hans Tung, managing partner, GGV Capital, joined the company’s board of directors.

Fishbowl is tackling existing professional networking platforms like LinkedIn head-on, which prioritize building a rolodex of connections over creating conversations between users. The company empowers professionals to concentrate online across industries (including advertising, consulting, and accounting) and to have candid and open discussions with others in their field and company. 

Fishbowl says more than 75% of US professionals at Boston Consulting Group, and 40% of US professionals at the advertising holding company, Publicis, are registered users of its app. Users spend about 15 minutes a day on the mobile app. The mobile app is available on iOS and Android devices and is free for all users, according to the company.

Including the latest funding round, Fishbowl has raised $7.5 million to date.

Fishbowl will utilize new funds to expand its reach across industries, with plans to open up to professionals in the law, entertainment, healthcare, and tech verticals. Fishbowl will be launching to professionals working in law in January of 2020. Fishbowl recently launched to the education community, creating a channel-specific to kindergarten through grade 12 teachers and educators in the US.

On competitors in the space, Fishbowl’s CEO & Co-founder Matt Sunbulli said, “Current professional networks lack a space where users can share moments and candid thoughts from their work lives in the same way they do with their personal lives. We want to change how professionals converse with one another within companies and industries to create community and transparency that leads to positive change.”