Irish mobile chat startup Quorum has raised a $2 million seed round led by Adjacent and LocalGlobe, alongside Amaranthine and Y Combinator.
Founded in 2019 by Irish engineers and Y Combinator alumni Patrick Finlay, Romy Lynch and David Newell, Quorum is a mobile chat app that lets creators and service providers including educators, business coaches and personal stylists communicate directly with their clients via chat.
"Originally we were developing a product for close friends and family to communicate without social media during our time at YC," Patrick Finlay, Quorum cofounder and CEO, told Business Insider in an interview. "We've seen in the past few months that our services can work beyond some niche use cases and has a more mainstream appeal as people try to solve social isolation."
The company is in the early stages of building out its product team and wants to support businesses using a more virtual business model during the coronavirus. Quorum is targeted at creators who want to monetize a smaller, more loyal following via chat.
Fundraising began in early March with Quorum only meeting one investor, Amaranthine, in person during the process.
"We started raising as COVID-19 hit and managed to close the round while the Nasdaq was crashing," Patrick Finlay, Quorum cofounder and CEO, told Business Insider in an interview. "Our investors were very thesis driven and not pushy on profitability."
Next steps include a hiring push and a continuation of the company's aim of supporting viable businesses on its platform.
"More and more people are moving away from large-scale, impersonal platforms in search of something
smaller and more authentic," George Henry, partner at LocalGlobe said. "The passion economy has been firmly establishing itself as a vital and viable source of income for an increasing number of people for years. Quorum is ideally placed to enable these passionate people to achieve mobile and chat-based interaction, turning fans and supporters into customers."
Check out Quorum's seed round deck below: