NEW YORK — East Meet East, an Asian dating website and app, has announced the closing of a $4 million Series A funding. The funds will be used for developing its AI matching systems, expanding into Asia, launching an additional site and adding more entertainment features to the platform. The investors in this round include: 500 Startups, Asahi Medialab Ventures, DG Lab Fund (jointly established by Digital Garage and Daiwa Securities Group), Mobile Internet Capital, Septeni Holdings Co., and others.
Catering to the Asian population, East Meet East is a platform for creating happy, passionate, and fulfilling relationships. Through the company’s high matching ratio among the Asian population in North America, over 20,000 individuals have found partners through the site. By successfully matching couples with mutual backgrounds and interests, the company has solidified its position as the leading Asian dating site.
“East Meet East provides dating services to one of the fastest growing demographics in the world,” said Mariko Tokioka, CEO of East Meet East. “In the U.S., the Asian population remains the fastest growing major ethnic group, with 72 percent growth between 2000 and 2015, growing from 11.9 million to 20.4 million. The Asia Pacific region is home to over 4.5 billion people, or nearly 60 percent of the world population, and online dating there has boomed in recent years.”
Tokioka continued, “In 2014, we started from nothing, and now we can confidently say East Meet East is a household name within the Asian community growing our user base over 8x from January 2016 till the end of 2017. People are talking about us in schools, dinner tables, and even at weddings! We are now focused on enhancing our matching capabilities, expanding our features and expanding into Asia to continue our growth in this fast-growing demographic segment.”
East Meet East is also announced its collaboration with “DG Lab” to launch “Love.AI,” East Meet East’s new AI matching system. The system’s algorithm will take factors such as past matches and communications into account to constantly refine how users are matched. As Love.AI deepens its learning, users will be able to cut down on the time they spend scrolling through incompatible matches, further increasing effectiveness and their success on East Meet East. DG Lab was established by Digital Garage, along with Kakaku.com and Credit Saison, with one of its main focus being Artificial Intelligence development.
“Matching and AI are undoubtedly a natural fit,” says Masahito Okuma, Partner of DG Lab Fund. “Users are constantly acting and interacting on the matching platform, which provides an abundance of data for Love.AI to refine its learning.”
Further, to leverage the success of East Meet East, the company has recently started West East Dating (WED), an inclusive dating site for Asians and Westerners alike in Southeast Asia. West East Dating’s mission is to help Asians find their lifetime partner. WED will serve as a platform where like-minded individuals will connect and come together, in celebration of Asian culture, language, and heritage. The dating platform will utilize the same state-of-the-art matching algorithms and other features unique to parent company East Meet East.