Product Hunt Raises $6.1 Million in Series A Funding Led by Andreessen Horowitz

  • Product Hunt Plans to Unveil New Social Features for Community Members
  • Investment Will Help Product Hunt Grow Its Team and Expand into New Verticals, Including Games, TV, Movies, Music and Fashion

SAN FRANCISCO--()--Product Hunt, a community-curated platform of the best new products, is pleased to announce it has raised $6.1 million in Series A funding led by Andreessen Horowitz with participation from reddit co-founder Alexis Ohanian. Existing investors from Product Hunt’s seed funding also participated in this round. Steven Sinofsky, board partner at Andreessen Horowitz, will join Product Hunt’s board of directors.

In response to user demand to enhance the community experience, Product Hunt will be rolling out new functionality designed to create stronger connections between its community members in the coming weeks. These include re-designed user profiles, an improved user invite system and the ability to follow individuals, allowing members to build a reputation within the community. Product Hunt has started sending relevant email notifications when a person the user follows posts a product.

Thanks to its active, enthusiastic community, Product Hunt has emerged as a popular online destination for daily discovery and discussion of newly launched products. Product Hunt will use the investment to grow its team, introduce new features for its iOS app and upcoming Android app, and expand its community-powered product discovery model into verticals beyond technology, including games, music, fashion, TV and movies.

“The explosion of creation is driving a greater need for curation, and Product Hunt has demonstrated that community-driven discovery is a powerful way to achieve that,” said Ryan Hoover, founder and CEO of Product Hunt. “With the support of the community, we believe we can help surface more great products and give creators the attention they deserve for building something people want — not only in the technology space.”

Hoover started Product Hunt in late 2013 as an email list that he shared with friends. Since then, Product Hunt has launched a popular website and iOS app and graduated from Y Combinator. Product Hunt has attracted a wide array of people to its site for a number of reasons: Consumers gain inspiration and motivation to build their own products; makers receive helpful feedback and even funding; and investors enjoy direct access to up-and-coming products and potential investment opportunities. Founders have even started exclusively launching their products on Product Hunt because of its ability to provide an unfiltered connection with an influential community of reporters, investors and founders.

“Product Hunt is much more than a site – it is a community,” said Sinofsky. “Product Hunt’s uniqueness comes from the full breadth of activity around new products and those enthusiastic about them: It’s a place to launch, learn, share and curate. We strongly believe in Product Hunt's vision. I look forward to joining the story and serving on its board.”

Product Hunt has a highly engaged community contributing to the site, every day. Users submit hundreds of links to new technology creations (e.g., mobile apps, websites and hardware projects) and upvote and talk about the products, often with the makers of the products directly. This results in a feed of new and interesting products, curated by Product Hunt’s community of early adopter, product enthusiasts.

“Product Hunt single handedly launched our new company,” said Jordan Walker, co-founder of Kindly, an iOS app that connects people looking to chat about common life issues in one-on-one anonymous chat sessions. “This is a golden time for new startups because of Product Hunt’s community.” Check out the Kindly conversation on Product Hunt.

Existing investors from Product Hunt’s seed funding round also reinvested, including A-Grade Investments, Abdur Chowdhury, Andrew Chen, betaworks, Cowboy Ventures, CrunchFund, Greylock Discovery Fund, Ludlow Ventures, Naval Ravikant, Nir Eyal, Slow Ventures, SV Angel, and Tradecraft. This brings Product Hunt’s total funding to date to $7.1 million.

For more information about Product Hunt, visit the following:

About Product Hunt

Product Hunt (producthunt.com) is a community-curated platform that surfaces the best new products, every day. Founded in 2013, Product Hunt is based in San Francisco and backed by Andreessen Horowitz, Alexis Ohanian, A-Grade Investments, Abdur Chowdhury, Andrew Chen, betaworks, Brenden Mulligan, Cowboy Ventures, CrunchFund, Google Ventures, Greylock Discovery Fund, Jack Altman, Ludlow Ventures, Naval Ravikant, Nir Eyal, Slow Ventures, SV Angel, Tradecraft, Vayner/RSE and Y Combinator.

Contacts

For Product Hunt
Spencer Parkinson, 801-461-9767
spencer@methodcommunications.com
or
Anna Roubos, 774-232-2460
anna@methodcommunications.com

Release Summary

Product Hunt is pleased to announce it has raised $6.1 million in Series A funding led by Andreessen Horowitz with participation from reddit co-founder Alexis Ohanian.

Contacts

For Product Hunt
Spencer Parkinson, 801-461-9767
spencer@methodcommunications.com
or
Anna Roubos, 774-232-2460
anna@methodcommunications.com