San Francisco-based mobile app Secret to raise $10M in venture capital
Secret, the mobile app that lets people share their secrets anonymously, will be raising $10 million of venture capital in a funding round led by Google Ventures, according to sources familiar with the deal. Kleiner Perkins Caufield & Byers will also participate in the round, wrote The Wall Street Journal (WSJ).
The funding round will value the startup at $40 million. Secret has received $1.2 million in seed funding in December, the report detailed.
Secret has just released an update on its app that will allow users to link their secret posts social network sites and even text messages. It will also have a "Nearby" feature that will let users see messages posted by people near them. The app had risen to the top 20 ranks in the App Store when it was launched five weeks ago. At present, Secret has settled to the 127th rank in the free social category, the report explained.
The mobile app lets consumers publish their private information anonymously. Former Google engineer David Byttow and former Google product manager Chrys Bader-Wechseler founded the startup. Its headquarters is currently located at Google Ventures' office in San Francisco, WSJ reported.