Stockholm-based Djungo is the online dating industry's new star – an innovative social platform that is primarily aimed at so-called digital natives/Gen Z. The app addresses unwanted loneliness among young adults and introduces a whole new way to meet friends and find love. In connection with a financing round of SEK 15 million, the app is now stepping into the Swedish market. Only two weeks after the launch in Sweden, the app has received 10,000 downloads.
With Levels as a venture partner, Djungo is well on its way to revolutionizing the online dating industry from within.
— We see a lot of potential in Djungo and their mission to challenge the 10-year-old swipe-to-match concept in online dating, and it's really exciting that Djungo chooses to do it with our support, says Henrik Nordström, co-founder of Levels.
The Djungo app is a social meeting place aimed at those who want to get in touch with new friends, exchange knowledge, or share interests, but also those who are searching for love but don't want to swipe for it. With a unique bot-moderated chat feature and a deep understanding of Gen Z's digital behavior patterns, the company aims to challenge the hitherto swipe-centric online dating industry by lowering the threshold for digital interaction, bringing back the joy of online social encounters. In February 2023, Djungo was recognized as “One to Watch” by Global Dating Insights (GDI), a world-leading source of global insights into the dating industry. In its Power Book 2023, GDI describes Djungo as a pioneering challenger to the industry status quo on a mission to solve the problem of unwanted loneliness.
Before the app launch, Djungo saw it as a given success factor to initiate cooperation with an experienced venture studio, and the choice quickly fell on Levels. As one of Stockholm's leading venture studios, Levels continuously contributes to the startup journey with capital, technical development, design, and strategic advice – a comprehensive solution for growing companies' digital transformation.
— Our collaboration with Levels has exceeded expectations, and we’re so excited to finally launch what we have built together, says Jakob Lundström, founder and CEO of Djungo. With the help of Levels, we were able to begin the necessary acceleration leading up to launch day much faster than expected.
— It is imperative that online dating sites continuously renew their offering and keep pace with the latest consumer trends in order to improve both user experience and retention. What we are seeing now is a shift from the traditional dating app towards something that feels more like a "social community" for digital interaction – in other words, exactly what Djungo offers, says Henrik Nordström.
In connection with the Swedish launch, Djungo has successfully closed a financing round of SEK 15 million. The round was led by Levels with support from other investors such as Niklas Kylberg, business angel and owner of Rekomo, Michael Wolf, siblings Linda Malmström Grassman and Sune Malmström, co-owners of Villa Dagmar and Hotel Diplomat, and Alexander Morad from Bright Mind Agency. Moving forward, Djungo will remain in close collaboration with Levels.
— The pandemic has brought increased digital user engagement, creating momentum for user-centric dating apps that place a special focus on meaningful encounters. With Djungo's unique positioning and innovative endowment, we see a very large potential to deliver meaningful value on both customer and societal levels, which is completely in line with Level's own values, adds Henrik.
