Fishbrain, a Göteborg, Sweden-based mobile app and social network for the sport-fishers, has announced today a very successful first round of investment worth $2.4 million. The funding round is led by Northzone and Active Venture Partners, and participated by GP Bullhound, Edastra Venture Capital and existing investors Mathias Ackermand, Rikard Steiber and ALMI. The latest round has increased the total raised so far to almost $4 million.
The niche social app is a crowdsourced platform where the registered fishers connect with each other and share very useful info like geological and meteorological data. The users can also chat, advise each other and share fun items like pics, routes, catches etc. with the community who use the app.
There are over 200 million anglers across the globe today, with the US hosting 40 million of them alone generating a market valuing more than $45 billion. Available for both iOS and Android, Fishbrain is the largest sport-fishing platform in the US. It claims a total 430K registered users as of today, half of which are said to be active.
CEO Johan Attby says they will spend the fresh funds to further enlarge the user-base with particular focus on the US market. He said in a statement that they are also working on ways to monetize on the service, like developing new features and partnerships.
Tim He, the Investment Manager at Northzone, said the fishing is the world’s largest hobby and “digitally underserved”. He added, “FishBrain is the best and fastest growing app and social network for anglers. With its world class team, I am confident FishBrain will become the go-to app for fishing.”