Silicon Calley

WooMe Woos Index Ventures to The Tune of $12 Million

LA-based WooMe, the online video speed-dating service, has reportedly raised a $12 million Series B round from Index Ventures. According to NewTeeVee:

We have been tracking a round of funding for WooMe, the online video speed-dating service, and latest word is that the deal is done. The company raised a $12 million round led by Index Ventures, according to our sources. The company raised fresh money at a pre-money valuation of around $18 million, which makes it worth around $30 million. And apparently WooMe is working on a deal to turn its video chats into TV content for MTV.

WooMe, attempts to bring the speed-dating craze online, according to their site. Through the site, which went into public beta in November 2007, users are able to meet new people by finding a speed session that interests them. You can browse the site for speed sessions like “texas guys do it better” or “wats ur favorite cookie[sic]?” You can also make your own session like “Geeks in LA.” You then use their in-browser video and voice capability to talk to someone in the session for an allotted amount of time (originally started at a minute, but recently a longer time allotment option was offered). You then are offered three options: “I’m Woo’d,” “No Thanks,” or “Decide Later.”

WooMe was founded by Stephen Stokols and George Berkowski in 2006. WooMe initially received $1.9 million in seed funding from Niklas Zennstrom’s (Skype Founder) Atomico Investments in April 2007. They then received a $3 million bridge round that was led by Mangrove, along with previous investors Atomico, Klaus Hammels, and Oliver Jung in February 2008.

According to Stokols, they had facilitated 35,000 sessions, as of February 2008. Stokols also claims that they run about 1,000 sessions per day, and the average user participates in 3.5 sessions per week.

WooMe plans on generating revenue through the sale of “WooCredits,” which can be used to unlock contact information of two “Wooers,” and through sponsored sessions.

Although technically similar to SpeedDate, which launched around the same time as WooMe, they should be not be confused. While the technology available obviously offers users the ability to speed-date online, it can be used for other reasons. It does not call itself a “dating site,” which could very easily lead to its eventual success in the market. I know I would much rather use a site like WooMe, that may or may not be a dating site, than on a site like SpeedDate. I personally would like see Michael Arrington use WooMe to hear startup pitches, but that’s just me.