New dating app First Round's on Me recently raised $3 million in seed funding.
Founded by Joe and Hannah Feminella, FROM launched in 2020 and prioritizes planning dates.
The app offers premium subscriptions and in-person events to monetize and foster IRL connections.
Many dating apps these days feel like an endless void of swiping, matching, and messaging.
Could a dating app that's built around setting up an actual date help?
First Round's on Me is a new dating platform founded by husband-wife duo Joe and Hannah Feminella.
The two are actually a Hinge success story, Joe told Business Insider. When he first matched with Hannah, he instantly messaged her that he wanted to take her out on a date as soon as possible. She replied, "Let's go out tonight."
Now, the two are building FROM, which launched in 2020 and prioritizes planning a date instead of getting stuck in DMs.
"The swipe, in general, facilitated and snowballed this problem," Joe said. "It's so easy to swipe — it's like a game. It's like you're playing Tetris or something, and that's kind of what dehumanized it for me."
When building FROM, Joe and his team avoided swiping altogether. While users still sift through a feed of potential matches, the action of matching with someone requires users to ask that person out on a date — time, place, and all.
"We're trying to retrain the way people use dating apps," Joe said.
The startup announced in August that it had raised a $3 million seed round led by Manna Property Group, a family investment office.
Fundraising is a bit like dating, it turns out, Joe told BI.
"You have to have a certain personality where you're really not afraid of rejections," he said. There's also a bit of playing the field, seeing which investor is aligned with the company's goals and founder's vision.
FROM is growing at a time when other newcomers in the dating and social space are emerging as well.
"The big three players — Tinder, Bumble, and Hinge — have the same replica kind of process," Hannah said. "Newer apps, like ourselves, we're making it more intentional."
"I think people are more invested in Mom and Pop companies where we have a purpose behind this," Joe said. "We're not a big conglomerate that's just trying to make money."
Still, FROM is navigating how best to monetize as a dating app. It currently offers three tiers of premium subscriptions that unlock features like the option to send out more date invites. The lowest option is $10, and the highest tier is $25. The startup is also experimenting with in-person events as a revenue model.
It's not all about dating, however. Joe said he sees FROM as part of a broader trend in which social tech startups are trying to help people connect IRL and feel more human.
"We want to make this a whole social movement where people still have that comfortability of technology, but it makes us get in person," Joe said.
Read the 16-page pitch deck First Round's on Me shared with investors:
Note: A spokesperson for FROM told BI that the featured deck includes outdated figures and details, and some of FROM's team have since changed.
First Round's on Me's slogan is, "Bring back real dating."
Courtesy of First Round's on Me
The first slide gives a brief "About Us" summary.
Courtesy of First Round's on Me
Here's what the slide says:
First Rounds On Me is retraining the way people think about dating apps, helping them focus on a more intentional & genuine approach.
Then, the deck dives into the dating-app market.
Courtesy of First Round's on Me
Here's what the slide says:
The dating app market is one of the biggest markets in the world and only increasing each year.
$10 billion + total addressable market (TAM)
4.6% YoY growth of dating app market
400m+ dating app users worldwide
Apps like Tinder and Bumble are competitors.
Courtesy of First Round's on Me
Here's how FROM sketches out its competition:
Top dating apps
Tinder: dating through gameplay
Bumble: dating through power
Coffee Meets Bagel: Dating by symbolism
Hinge: Dating by shared interests
FROM outlines how it is different than its competitors, too.
Courtesy of First Round's on Me
Here's what the slide says:
First Round's on Me Key Differentiators
The dating app market is currently filled with players that have created products that serve predominantly as meaningless distractions, with aimless chatting features, and poor in-person meetup conversions. This results in poor success rates (to keep users active).
At First Round's on Me, we have created a product that serves our duty to give users the highest chance at fulfilling our mission — making genuine connections in real life.
No more swiping … send actual dates
One confirmed date per day
Only chat 24 hours before
SOS text capability
The app knows where your date is happening
Then FROM dives deeper into its product.
Courtesy of First Round's on Me
Here's what the slide says:
Innovative & Disruptive Product…
Bringing together like-minded individuals
No matching algorithms
Algorithms are logical
Relationships are emotional
Local real-life feel with our Neighborhood feature
Perfectly planned curated date experience
From chic venues to smooth rides with Alto and Uber, and hassle-free payments with Afterpay.
Seamless integration with Resy and Opentable, you're always just a tap away from the city's hottest venues.
Instilling confidence to go on real in-person dates
Selfie verification
Safety check-in notifications
3rd party federated identity verification
Partnerships with local reputable venues
The deck includes screenshots of the app.
Courtesy of First Round's on Me
FROM shares stats on its growth so far.
Courtesy of First Round's on Me
Here's what the slide says:
Where we're at…
125,000+ users
200,000 downloads
7,000+ confirmed dates
350,000+ dates sent
2,000%+ YoY user growth
800%+ YoY subscription growth
FROM has several business models for generating revenue.
Courtesy of First Round's on Me
Here's what the slide says:
Subscriptions: 6,000+ and growing monthly paying subscribers to First Round's On Me.
First Round's on Me Cafe (NYC): First Round's On Me will be the first social app to have a physical presence - right in the heart of NYC. This location will be home to podcast recording studio rentals, coffee shop, and an events/popup location.
Events: First Round's On Me is an industry leader in in-person events, running ticketed dating events around the country.
Venue Partnerships: First Round's On Me has a growing number of strategic venue partnerships that become go-to date spots for matched dates.
Social Media Advertising: First Round's On Me generates revenue from advertisers on both the mobile app, podcast network, and sponsored events.
First Round's On Me Media Network: First Round's On Me will be signing strategic talent under the First Round's On Me Podcast media network to drive significant engagement and social traffic to the brand and mobile app.
Then the deck goes into FROM's 2024 goals.
Courtesy of First Round's on Me
Here's what the slide says:
First Round's On Me Cafe (NYC)
We will be one of the only social apps with both a social and physical location presence - in the heart of New York City.
Brand Expansion
We will be expanding the brand from a dating app to a social app that can be used by friends and family.
International Presence
First Round's On Me will be doubling its geographical presence from 12 to 24 cities (including internationally).
FROM highlights some press coverage.
Courtesy of First Round's on Me
The app has been featured in publications like Women's Health, The List, and Mashable.
FROM shares its projections through 2027.
Courtesy of First Round's on Me
Here's what the slide says:
By end of 2027, FROME will serve 10 million Real Verified Authentic Members, facilitating 10,000 real dates a month across 100 cities around the world.
