• Czech startup Openvibe, a company developing a mobile app that connects social networks like Mastodon, Bluesky, Nostr, and Threads through a unified interface, has raised $800K in funding.
• The investment round was led by Czech Founders VC, with participation from Tensor Ventures and Jan Široký, former CTO at Mews.
• Automattic, the company behind WordPress.com and Tumblr, also invested in the startup.

“We are currently witnessing an extremely dynamic development in social networking. TikTok is facing existential difficulties in the United States; there has been a significant outflow of users following Elon Musk’s purchase of X (formerly Twitter), politicians are increasing pressure on social platforms, and educated or young people are increasingly moving to alternative networks.” summarizes the exacerbated situation in the industry, Matěj Švancer, founder and CEO of Openvibe.

“Social networks have stopped being open. Unlike email, you cannot easily communicate with users of another operator. People are thus virtually locked into a particular network. It is, therefore, not surprising that they feel frustrated and seek refuge in new-generation networks that are much more open and free. As is usual with new technologies, the first users are often specific groups of people – IT specialists, scientists, or journalists. In the past, this group was gradually joined by the general public.” Švancer added.

It is this user in flux that the startup Openvibe is targeting, offering multiple access to new generations of social networks through one secure mobile interface. “The problem of disgruntled and migrating social network users is particularly acute in the US, where over 100 million users have left traditional social networks for next-generation social networks such as Mastodon, Bluesky, Nostr, and Threads. According to Techcrunch, the Bluesky network will surpass the 20 million user mark by 2024, and new ones are still coming. This trend will likely be seen on other continents very soon,” Švancer explained.

In Iceland? I’ll be right there!

The fact that Openvibe is showing strong potential is confirmed by the list of investors who participated in the current investment round. The investment round was led by Czech Founders VC, joined by deep tech fund Tensor Ventures and Jan Široký, former CTO at Mews. But what’s unusual about this investment round is the participation of  Automattic. The latter owns projects such as Tumblr or  WordPress.com, a platform that runs more than 40% of all websites on the internet.

There’s an interesting story behind how Openvibe negotiated the investment from Automattic. “I first contacted their investment team using the standard method. But the conversation ended up being that we were too small for them for the time being and that we would get in touch later. I was interested in getting Automattic involved, though, and when I found out that their CEO and founder Matt Mullenweg was going to be in Iceland the next day for a meet-and-greet event, I immediately bought a ticket and met him in person, even though he had never heard of me before. We eventually arranged the investment,” describes the unusual maneuver with a successful ending for Švancer.

“Investor interest confirmed the great potential of our project. We received offers for almost double the amount, and unfortunately, we had to reject several investors. In the end, we agreed that this amount and the mix of investors made the most sense for our long-term growth,” says Švancer, describing the thinking behind the investment.

Faster development and developers

Openvibe’s solution was developed based on previous applications Tweetoshi and Plebstr. The funds will allow Openvibe to accelerate product development, expand its user base, and develop further integrations with emerging social platforms and global brand development. The company is looking for additional Flutter developers in the Czech Republic to join its four-person team to help fulfill the plan.

“At Czech Founders VC, we strongly believe in Openvibe’s mission to bring users a more open and inclusive social media experience,”  says Ivan Kristel, co-founder and General Partner at Czech Founders VC, and continues: “By prioritizing user control, encouraging genuine interactions, and avoiding the shortcomings of centralized platforms, Openvibe can redefine how people communicate. We believe now is the best time for a platform emphasizing user freedom of choice and true community.”

Deep tech fund Tensor Ventures is also investing in Openvibe, enabling investments in unique quantum technologies, biotechnology, security technologies, software 2.0, and energy and climate technologies, to name a few. “Openvibe is simply a gamechanger that has understood the frustration of billions of users of traditional social networks around the world and offered them a modern space where they can breathe freely thanks to its debugged technology,“ says Jan Faflik of Tensor Ventures, who led the investment on behalf of the deep tech fund.

Automattic’s Jake McNamara Ackroyd of Corporate Development said, “We are excited to support Matěj and the Openvibe team in their efforts to bring a more open, inclusive, and innovative social media experience to users worldwide.”

“The ideas of an open social web resonate strongly in me. OpenVibe makes this technology accessible to everyday users and allows them to connect across networks. At the same time, it puts control of content back in the hands of the people – without exploiting users as a product, for example, through advertising. I immediately became an active app user and can’t wait for the new features this investment will accelerate,” joins Jan Široký, angel investor and former CTO of Mews.

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