Communications app Yo grabs $1.5 mln

Communications app Yo has closed $1.5 million in funding. The investors included Betaworks and Pete Cashmore, founder of Mashable.

PRESS RELEASE

SAN FRANCISCO – July 18th, 2014 – Yo, the incredibly simple communications app, announces today the official completion of an initial funding round of $1.5 million from top tech industry leaders including Betaworks and Mashable founder Pete Cashmore.

Yo has been pushing forward at a rapid pace, focusing both on user acquisition and developing an API for businesses, brands, and other apps. The funding will allow the company to continue its efforts to partner with leading tech companies while refining and enhancing its remarkably simple messaging platform.

“The value of this round goes far beyond the dollar amount that we received,” said Or Arbel, CEYo. “Bringing such incredibly smart, talented, and experienced people into the Yo team at this stage is an incredible advantage that will allow us to accelerate the growth and provide more and better value to our users.”

The round also featured investment from a number of additional private investors, which the company is not disclosing at this time.

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