At a reported $1 billion valuation, Clubhouse gets Series B funding

In a Series B funding round led by Andreessen Horowitz, a US venture capital company, Clubhouse, one of the buzziest social media items in Silicon Valley, has raised fresh funds.

Although the company did not release any detailed information on the scale of the investment or the valuation, last week the information confirmed that Clubhouse was attracting interest from venture capital firms to lead its future funding round at a valuation of approximately $1 billion. If real, since its last funding round in May last year, this is a ten-fold leap.

In an official blog post, Clubhouse said, “We now have over 180 investors in Clubhouse—large and small, spanning many different races, genders, and areas of expertise, and including many members of our early community”

The live voice chat app, currently in invite-only mode, is aiming to use the funds raised this year for a global launch. The company, which currently only has an iOS app, will soon start working on an Android app, as well as adding more features for usability and location.

“We plan to launch our first tests over the next few months to enable creators to get paid directly, through features such as tips, tickets or subscriptions. We will also use a portion of the new funding round to launch a Creator Grant Program to support emerging Clubhouse creators,” the company said in the blog post. A significant portion of the proceeds will also go towards tech investments.