About NearGroup
NearGroup is a Media & Entertainment company based in San Mateo (United States) founded in 2015. Hyperlocal social networking and proximity-based dating app is provided. It operates in the Media & Entertainment and Consumer sectors. NearGroup has raised $1.6 million across 3 funding rounds from investors including Facebook, OpenOcean and Neotribe. Its Indian entity Neargroup Services Private Limited reported revenue of ₹73.9 Lakh. Its focus areas include Social Platforms, Neighbours, Matchmaking and Dating.
Company details
NearGroup was founded in 2015 in San Mateo, United States, within the social networking sector. A hyperlocal application for proximity-based dating and connections is offered, enabling users to install it or integrate with messengers. Nearby members are linked based on location data, with artificial intelligence employed for automation and matching processes. Operations focus on location-driven interactions across the United States.
- Headquarters San Mateo, United States
- SectorsMedia & EntertainmentConsumer
- Website ww16.neargroup.me
- Social LinkedIn Facebook
- Legal Name Neargroup Services Private Limited
- Date of Incorporation 08 Sep, 2017
- Jurisdiction Delhi, India
- Indian entity revenue₹73.9 Lakh
FY 2021 · -25% YoY
- Indian entity net loss-₹4.6 Lakh
FY 2021 · -6% margin
- Indian entity EBITDA₹10.2 Lakh
FY 2021 · 14% margin
- Total Equity Funding$1.6M (USD)
in 3 rounds
- Latest Funding Round$1.6M (USD), Seed
Oct 2017
- InvestorsFacebook
& 3 more
Associated legal entities of NearGroup
NearGroup operates through Neargroup Services Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2021) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Neargroup Services Private Limited CIN U72900DL2017FTC323387 | Active | 08 Sep 2017 | Delhi, Delhi | ₹0.7 Cr | 2 | View details |
Funding Insights of NearGroup
NearGroup has successfully raised a total of $1.6M across 3 strategic funding rounds. The most recent funding activity was a Seed round of $1.6 million completed in October 2017. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $1.6M
- Total Rounds 3
- Last Round Seed — $1.6M
- First Round $40,000
(Feb 2017)
- Investors Count 4
All 3 funding rounds of NearGroup with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
4 investors in total: 4 institutional.
Investors in NearGroup
NearGroup has secured backing from 4 investors, including venture fund and institutional investors. Prominent investors backing the company include Facebook, OpenOcean and Neotribe.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Multiple sectors are invested in by OpenOcean venture capital fund. | openocean.vc | Helsinki, Finland | ||
Venture capital firm focused on tech sectors | neotribe.vc | Menlo Park, United States | ||
Investing in Deep Tech and emerging technologies for 12 years. | boost.vc | |||
Online social networking and communication services are provided globally. | 2004 | facebook.com | Menlo Park, United States |
Investor details for NearGroup
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Board of directors of Neargroup Services Private Limited (NearGroup)
Neargroup Services Private Limited is the primary company behind NearGroup. The board of Neargroup Services Private Limited currently have 2 directors; the longest-serving is Anil Kumar Pitti, appointed in 2017.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Anil Kumar Pitti DIN 00050283 | Director | 08 Sep 2017 | 9 yrs 1 mo | Neargroup Services Private Limited |
| Prashant Pitti DIN 02334082 | Director | 08 Sep 2017 | 9 yrs 1 mo | Neargroup Services Private Limited |
People of NearGroup
1 people are tracked at NearGroup (1 in team).
| Name | Role | Group |
|---|---|---|
Stefan Kojouharov | Advisor | Team |
Complete people profiles for NearGroup
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Financials of NearGroup
Figures of Neargroup Services Private Limited, the primary company behind NearGroup, for FY 2021. Revenue was ₹73.9 Lakh (-25% year on year). Net loss was -₹4.6 Lakh (-6% margin). EBITDA was ₹10.2 Lakh (14% margin). Revenue has grown at a compounded annual rate of +53% over three years.
- ₹73.9 LakhRevenue · FY 2021 · -25% YoY
- -₹4.6 LakhNet loss · -6% margin
- ₹10.2 LakhEBITDA · 14% margin
- ₹1 LakhPaid-up capital
- +53%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Neargroup Services Private Limited are on its company page.
Detailed financial statements for NearGroup
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of NearGroup
3 dated milestones of NearGroup across 2 years, from founding to its latest funding, stage changes and deals.
- Founded NearGroup is founded.
- Funding First funding round of $40K.
- Funding Latest funding round, Seed, of $1.6M.
Top companies in Social Platforms
3 companies that operate in the same segment as NearGroup (Social Platforms) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Metaverse platforms and VR devices are developed for immersive interactions. | 2004 | Menlo Park, California, United States | USD 200.97 B | |||
Online social networking and communication services are provided globally. | 2004 | Menlo Park, California, United States | USD 1.77 B | 23,339 | ||
ESports social video streaming platform | 2006 | San Francisco, California, United States | USD 35.12 M |
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Related news about Neargroup
Complete news archive for NearGroup
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Frequently Asked Questions about NearGroup
NearGroup was founded in 2015 and raised its 1st funding round 2 years after it was founded.
NearGroup is headquartered in San Mateo, United States. It is registered at San Mateo, California, United States.
NearGroup is a funded company, having raised a total of $1.6M across 3 funding rounds to date. The company's 1st funding round was a Grant of $40K, raised on Feb 2017.
The primary company behind NearGroup, Neargroup Services Private Limited, reported revenue of ₹73.9 Lakh for FY 2021, down 25% year on year.
NearGroup was founded in 2015 in San Mateo, United States, within the social networking sector. A hyperlocal application for proximity-based dating and connections is offered, enabling users to install it or integrate with messengers. Nearby members are linked based on location data, with artificial intelligence employed for automation and matching processes. Operations focus on location-driven interactions across the United States.
NearGroup operates through Neargroup Services Private Limited.
The legal entities of NearGroup currently have 2 directors, including Anil Kumar Pitti, Prashant Pitti.