Clockout Raises $3.5 Million for Gen Z Networking App

Clockout, a networking application designed to help users discover local professionals, clubs, and events, announced it has secured $3.5 million in total funding. This funding round was led by 114 Ventures, with participation from Evite Ventures, Allied Ventures, Sher Ventures, Gaingels, and BMPB VC. The app aims to address the "loneliness syndrome" prevalent among young workers by fostering in-person interactions. Clockout was founded by CEO Krishna Dosapati, who envisioned the platform as a solution to the increasing difficulty of building professional networks and friendships in a digitally saturated world, particularly for individuals relocating to new cities or entering new industries. The app, which went live in October 2024, allows users to search for professionals based on their work, interests, and shared connections, encouraging offline meetings rather than solely digital connections. Dosapati, a graduate of NYU who experienced this networking challenge firsthand in New York, stated that the app's core mission is to help younger generations build their networks, make friends, and find professional communities. Clockout has reported significant traction since launching its monetization strategy, achieving $1.1 million in annual recurring revenue within its first 10 months. The platform has also garnered over 600,000 downloads to date, though the company has not disclosed its current valuation. The app operates on a freemium model, offering a $99 annual subscription that unlocks additional features, including unlimited access to clubs and events, while still providing value to non-paying users. This strategy aims to balance accessibility with revenue generation, allowing a broad user base to engage with the platform's networking capabilities. The company's focus on offline networking distinguishes it from purely digital platforms like LinkedIn and positions it as a modern alternative to services like Meetup, by emphasizing genuine, in-person connections within professional and interest-based communities. The $3.5 million in funding will likely be used to further develop the app's features, expand its user base, and enhance its community-building initiatives, particularly targeting the demographic of Gen Z professionals who are navigating early career stages and seeking meaningful social and professional connections.