Community platform Lounge raises $4m in seed round

The news: Community platform Lounge has raised funding in a seed round that included global investment firms and private investors.

The numbers: It has raised $4 million in a round led by global tech investor Square Peg, with participation from Lounge’s pre-seed investor Carthona Capital as well as private investors.

The context: Lounge, founded by Wulfie Bain and Jack Symonds, says it empowers users to create and organise communities, host events, and discover groups. The platform is used on almost every major university campus in the UK and Ireland, with early usage in Australia, New Zealand and South Africa. So far, more than a quarter of a million people have used the platform. It plans to use the funds to continue building its team and develop the product further.