Thailand-based startup Noonswoon today announced that it has raised US$400,000 in seed funding with a valuation of US$3 million, with Golden Gate Ventures as the lead investor. Other participating investors include Pacific Tiger Group, CEO of Ookbee (Moo Natavudh), and the former CTO of Agoda (Joost Doevelaar).
The Echelon 2013 finalist was co-founded by Kavin Asavanant, Theeranit Pongtongmuang, and Peter Panas in 2013, and has been receiving quite a bit of press love from both print, broadcast and online publications. Their product, an iOS and Android app which facilitates mobile matchmaking, has been relatively well-received; it was the second most grossing lifestyle app on the Thai App Store two months back.
With the investment, Noonswoon will see new hires, more specifically top-level players. Peter said, “Nate Janewit is leaving Harvard Business School to join us as VP of Product Management.”
Having won AIS The Startup Weekends earlier this year, Noonswoon received THB600,000 (US$12,847) in a development fund with marketing and public relations support from the Thai telco.
Vinnie Lauria, a founding partner at Golden Gate Ventures, shared that he is particularly impressed with the founding team. He said,
“The founders of Noonswoon have everything we look for in a great team. They complement each other well and are very analytical driven for their product strategy.”
He had first met the founders of Noonswoon after e27′s Thailand Satellite when they pitched on stage for a chance to enter Echelon. When he eventually got in touch with them, he was particularly impressed with how systematic and organized they were. Everything was about analytics and driven by metrics.
In an earlier interview, Noonswoon shared that they have plans to go regional, and are looking to enter Singapore soon.