Lex, the App Inspired by Vintage Lesbian Personals, Raises $5.6 Million in Seed Funding for LGBTQIA+ Communities

Lex, the Vintage-Inspired App, Raises $5.6 Million in Seed Funding

In a recent development, Lex, the app inspired by vintage lesbian personals, has successfully raised $5.6 million in seed funding. This achievement also brings a change in leadership, with co-founder Jennifer Lewis taking over as the new CEO. Founding CEO Kel Rakowski transitions into the role of chief creative officer, while former Hinge product boss Michelle Parsons joins as the chief product officer.

Achieving a Milestone for the Team

With a team of just 11 individuals, the successful funding round is a significant accomplishment. Lewis acknowledges the challenges faced by women- and queer-led startups within the venture industry, making this achievement even more remarkable. She stated, “We’re proud to have successfully raised. It’s no small feat given the abysmal funding rates for startups led by women and queer individuals.”

Growing Scope and Impact

Though Lex doesn’t aspire to be the next Reddit, Tinder, or Twitter, its influence continues to expand as more LGBTQIA+ individuals openly identify themselves. The app currently holds a position around #350 among iPhone social networking apps in the United States. However, if you belong to the queer community and reside in one of Lex’s top cities, such as New York, Chicago, or Los Angeles, chances are you are already using it.

A Diverse Range of Functions

Lex serves various purposes within the LGBTQIA+ community. People in LA rely on it to seek roommates, sell concert tickets, express their feelings, and explore their sexual desires through posts. On any given day, the text-only feed offers a diverse mix of content, resembling a local LGBTQIA+ paper, Craigslist missed connections, a chaotic poetry subreddit, or trans Twitter.

Navigating Community Needs and Rebranding

In February, Lex underwent a redesign that sparked conversations about whether the app was moving away from its dating and hookup origins. Despite the furor, Lewis sees the feedback as helpful, stating, “It alerts us to the gaps that we have, and we don’t pretend to know that we can see everything.” She maintains that the redesign aligns with the desires of most users who seek “a social app for all things queer.”

Achieving Funding Milestones

The seed round was led by Stellation Capital’s Peter Boyce, with other notable firms and angels also contributing. Some of the other funders include Slauson & Co, Hope Lab Ventures, Best Nights VC, Great Oaks, Graph Ventures, Manuela Rios, Melanie and Lila Steinbach. Notably, the investors from Lex’s pre-seed round, namely Female Founders Fund, Alpaca Ventures, Red Swan, and Gaingels, have chosen to reinvest in the app.

Monetization and Expansion Challenges

With the infusion of new funds, Lex aims to expand its reach. However, finding a balance between growth and user satisfaction poses a challenge. Unlike traditional VC-backed businesses, Lex places a strong emphasis on serving marginalized LGBTQIA+ communities. Lewis believes that building the business and devising monetization strategies for an LGBTQ company requires a nuanced approach tailored to the needs of the community.

Focused on Empowering Queer Individuals

Rakowski, the former CEO, expressed enthusiasm about her new role, stating that she can now focus on what she loves — making things happen for queer people. Letting go of the responsibilities of running and operating the company allows her the freedom to empower the LGBTQIA+ community further.

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