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Parler Inc. announced it raised $20.3 Million in an initial filing from an offering of $20.3 Million

Jan 06, 2022almost 4 years ago

Amount Raised

$20.3 Million

NashvilleAppsMobileMedia And EntertainmentFinancial ServicesSoftware

Company Information

Company

Parler

Location

901 WOODLAND ST.

Nashville, Arkansas, United States

About

The conservative social media platform Parler has raised $20 million in funding, according to an SEC filing that was signed and submitted on January 6, the anniversary of last year’s domestic attack on the Capitol. The companies said the app had been used by Trump supporters and other far-right users to call for violence and organize their plans to storm the Capitol. Parler’s then-CEO John Matze posted on his Parler account that we wouldn’t cooperate with the App Store’s demands for the company to submit a content moderation improvement plan. From Parler’s May 2021 return to the App Store until now, the app has been downloaded just 141,000 times, the firm noted. This additional infusion of $20 million could help the app continue building out this filtering technology, which Parler uses in tandem with human moderation. Parler may soon have new competition in TRUTH Social, Trump’s own social network that’s expected to launch on February 21, President’s Day.

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Funding Insights

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