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by Taylor Soper on 5, 2017 at 11:36 am April 7, 2017 at 7:23 am april

Noise the security for females to locate something aside from conventional relationship apps: Siren is shutting straight down.

The waplog match login app that is seattle-based which billed it self as an option to internet sites such as for instance Tinder and Match.com with a concentrate on empowering ladies, is shutting its doorways after running away from cash.

Siren co-founder Susie Lee penned a post Tuesday detailing the causes for the business’s shutdown. She noted that Blackrun Ventures, which year that is last $225,000 as an element of Siren’s seed round, had never “completed their obligation.”

“Instead, we received tiny, unpredictable quantities, with all the other investors fearlessly stepping forward,” Lee composed. “Through the commitment among these committed individuals we had been in a position to carry on development, nevertheless we’re able to never ever prepare beyond a couple of months, hindering development, milestones, and new money possibilities.”

In a meeting with GeekWire, Lee stated that “all closing docs have been signed, but never finished their dedication.”

“Instead, they issued tiny, unpredictable tranches, frequently with months in between, despite sometimes daily requested updates and repeated assurances,” Lee noted.

Blackrun Ventures, which spent as an element of its women-focused investment supply, nevertheless lists Siren on its profile web page. We’ve reached away to the company to get more details and certainly will upgrade this post as soon as we hear straight back. Improve: On Friday, Blackrun responded to GeekWire and supplied this declaration:

“Blackrun Ventures joined an amount of investors to take part in Siren’s $500,000 seed financing round. Because the lead investor, we committed $225,000, of which 75% ended up being disbursed during the last year following conclusion of research.

We had been focused on supplying the rest regarding the investment to aid Siren’s expansion, and delivered our consultant to work alongside the united group on the strategic way. Regrettably, the founders made the decision on April 4th to shut straight down the business.

The app that is dating is crowded and highly competitive, but our grounds for purchasing Siren had been strategic, and now we had been won over by the vision and passion associated with the company’s founders. However, although we nevertheless see prospect of business, especially internationally, we respect their choice.”

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“Despite the doubt shadowing us, we did our better to build on our energy, doing every thing inside our power to remain afloat,” Lee penned within the blog post. “But without a means to harness and circulate funds for expansion, we merely could maybe not develop fast sufficient. The efforts of two co-founders alone are not sufficient to take on the well-funded organizations in this room. Regrettably, this comes at any given time whenever Siren revealed traction—relocation that is strong expansion to ny, the forming of key partnerships, and individual success tales that inform us we had been onto one thing special.”

Siren CEO Susie Lee celebrates the App of the win at the 2015 GeekWire Awards year.

Launched in 2014 by Lee and co-founder Katrina Hess, whom served as COO, Siren differentiated it self off their dating apps by prioritizing women’s security and enabling users to activate through their responses to day-to-day concerns given by regional companies and regional icons that are cultural. The software relied on discussion as a starting point rather than long pages or picture surfing.

“We’ve developed the very first mobile platform created for unanticipated and constructive flirting,” Lee told GeekWire in 2014.

After winning the GeekWire App of the season award in 2015, Lee and Hess relocated Siren to new york this past September as entrepreneurs-in-residence during the brand new Museum’s incubator system, brand new INC.

Lee stated the organization had been “pre-revenue,” but had a three-pronged revenue model eyesight that included online-to-offline partnerships with regional businesses, compensated subscriptions, and “psychometric data analysis of aggregate user reactions.”

The software had 38,000 new users, with an 80 response that is percent to initial communications, Lee noted. Siren had raised $960,000. Its just employees that are current the 2 co-founders, who will be both now back Seattle.

Here’s Lee’s blog post that is full

Its with hefty hearts—and eyes into the future—that we ought to announce that Friday, April 7, 2017, Siren will soon be shutting our “doors.”

Although it’s maybe not uncommon for a startup to operate away from cash, the way in which we went out ended up being since unanticipated as it had been damaging. At the start of 2016, we shut a lead investor to our round whoever objective would be to support female-centric organizations and whom saw the possibility in Siren’s clear differentiation in a saturated market. Yet, around this writing, a calendar that is full later, they will have perhaps not finished their responsibility. Alternatively, we received small, unpredictable quantities, utilizing the other investors fearlessly stepping ahead. Through the commitment among these committed individuals we had been in a position to carry on development, nonetheless we’re able to never ever prepare beyond a couple of months, hindering growth, milestones, and new capital possibilities.

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