Clubhouse picks up new funding at $1B valuation

Social media startup Clubhouse has raised new funding led by existing investor Andreessen Horowitz. The $100 million round values the company at $1 billion, Axios reported. Andreessen Horowitz also led Clubhouse's $10 million Series A last May.

Clubhouse is a provider of invitation-only audio chat rooms that center on a variety of topics. The company was launched last March by founders Paul Davison and former Google engineer Rohan Seth. Since then, it has exploded in popularity among venture capitalists and celebrities alike.

Clubhouse, which boasts more than 180 investors to date, plans to use the funding in part to improve accessibility and "support emerging Clubhouse creators" by paying conversation hosts via subscriptions, tickets and tips. The startup said more than 2 million people around the world used its app to connect last week.

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