IRL joined the Unicorn Club on June 15, 2021, after raising a $170 million Series C funding round led by SoftBank Vision Fund, valuing the company at $1.1 billion. Headquartered in San Francisco, United States, IRL was an app-based social calendar and event discovery platform that enabled users to organise plans, sync with social media, share events, and discover nearby activities.
The app aimed to bridge digital and real-world interactions by helping people connect over shared experiences. Users could browse events, coordinate meetups, and engage through communities centred around interests and locations.
Keep reading to learn how IRL quickly reached unicorn status before shutting down in 2023.
What Is IRL and What Did It Do?
Founded in 2017, IRL (short for “In Real Life”) provided a social calendar app designed to help users organise and discover events. It integrated with popular social media platforms and calendars to make sharing, syncing, and scheduling simpler.
The app enabled users to discover concerts, community gatherings, online events, and trending activities in their local area. By merging event discovery with social networking, IRL positioned itself as a digital companion for real-world experiences.
How Much Funding Did IRL Raise?
1. Series C Round
- Amount Raised: $170 million
- Date: June 15, 2021
- Valuation: ~$1.1 billion
- Lead Investor: SoftBank Vision Fund
- Purpose: Product expansion, international growth, and community-driven feature development
2. Earlier Rounds (Seed to Series B)
- Cumulative Funding: ~$30 million
- Key Investors: Dragoneer Investment Group, Goodwater Capital, Founders Fund, Floodgate
- Purpose: App development, user acquisition, and event integration features
Total Funding Raised: ~$200 million
Latest Funding Date: June 15, 2021
Last Known Valuation: ~$1.17 billion (as of June 26, 2023)
Employee Count: 51–200 (as of July 1, 2024)
Key Investors
1. SoftBank Vision Fund
- Details: One of the world’s largest technology investment funds, backing companies with strong user growth and global scalability.
- Focus Areas: Consumer technology, social platforms, and AI-driven digital ecosystems.
2. Dragoneer Investment Group
- Details: Growth-oriented investment firm focused on late-stage private and public companies.
- Focus Areas: Internet, mobile, and consumer technology ventures.
3. Founders Fund
- Details: Venture capital firm investing in technology platforms across stages.
- Focus Areas: Social applications, network infrastructure, and next-generation communication tools.
Where Was IRL’s Headquarters?
IRL was headquartered in San Francisco, California, United States, operating with teams in product development, design, and marketing across North America. The company maintained a lean workforce, focusing on app engagement and community management, before ceasing operations.
What’s Next for IRL?
After achieving unicorn status in 2021, IRL struggled with user verification and operational challenges. The company was deadpooled in 2023, with reports confirming it had inflated usage metrics. While its shutdown marked an abrupt end, IRL’s rise highlighted how quickly social platforms can scale around niche, experience-driven interactions.
Get Investor & Funding Insights with TexAu
TexAu provides verified investor and funding data for companies like IRL. Explore insights into consumer apps, social discovery platforms, and digital community ecosystems that shape user engagement.
Sign up for Free on TexAu to access real-time investor and funding intelligence.
