Australian Startup Tinybeans Has Closed $2 Million In First Round Funding

Getty/Lisa Lake

Family-friendly social network startup Tinybeans has just closed its first round of funding, landing $2 million in investment.

Gathering the funds from a consortium of private investors the startup has been bootstrapped since it was launched two years ago by co-founder Eddie Geller.

The startup, which wants families to be able to share life’s big moments securely with people they choose, has about 500,000 users globally and hopes to hit one million users before the year is out.

About 50% of its users are based in the US and while it’s not going to be the elusive manual for raising children, the startup hopes it will be able to provide solid, personal information about a child’s development.

“There’s lots of information out there for parents to consume, we see one of the challenges as providing really personal information to the parent at the right time,” Geller said, adding using the milestones shares on the network will assist that.

Tinybeans co-founders have spent the better part of 18 months validating their business model and has been raising since March this year.

“The ability to raise funding has sort of validated [the idea] to a degree,” Geller said adding traction around signups also gave the team confidence.

The online parenting network also launched photo album printing services last year to form another revenue stream.

Funding will be used to build out the product further and open up a US office in 2015.

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