The Japanese venture capital firm, UMJ Russia Fund has led a new funding round in Russian online dating service Teamo.ru. Including initial funding, Teamo.ru received more than $2 million, of which UMJ (Russia) likely invested $1 million. The new investment will be used for marketing purposes to increase brand awareness and number of users. UMJ Russia Fund was launched by United Managers Japan Inc. (UMJ) in June 2007.
Launched in late 2010, Teamo.ru has about 0.7 million registered user accounts. Its monthly audience is 0.3 million users. Teamo.ru, which positions itself as a site for serious relationships, uses a subcription business model. The project was initially funded by online business incubator, Fast Lane Ventures. German Otto Group-backed eVenture Capital also invested in Teamo.ru.
In June 2011, online dating service Flirtic raised $1 million from Almaz Capital Russia Fund.
The leader in Russian online dating, Mamba generated revenues of $41 million last year.
See a list of top 10 Web Startups from Russia.