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LGBTQ+ dating platform Bindr secured a $60k investment prize after they won Startupfest’s first 2SLGBTQIA+ Entrepreneur Pitch Competition.
The American startup celebrated the win last week (July 12) at the 14th edition Startupfest event, held at Montreal’s Old Port, Canada, after they beat 40 other participants to scoop the inaugural investment prize.
Bindr launched in August 2022 when Pennsylvania natives Mary Richardson and Brandon Teller wanted to provide Bisexual and LGBTQIA+ resources their rural community lacked representation.
The 2SLGBTQIA+ initiative, in partnership with QueerTech and Startupfest, was made possible through the contributions of over 10 angel investors.
Mary Richardson said: “I knew that I couldn’t afford to do what other founders did to get users. A year ago, I had about ten thousand users and while that was great, it wasn’t going to sustain itself.
“So we got creative and built technology to fix our problem. It has worked very well, getting us hundreds of thousands of users organically.”
Bindr has reportedly gone on to help other companies affordably get their customer acquisition cost down from $30 in the consumer space to $0.20 with this new technology.
“What sets Bindr apart from other companies is that we care about our technology being great, and our users being safe and represented. This has given us endless opportunities to license our tech to other companies also looking to solve the same problems we’ve had, while keeping our core principles alive,” said Mr Teller.
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