Religion Apps Attract Wave of Venture Investment

Religion apps are benefiting from a sharp rise in venture-capital funding as more people turn to them for a sense of community, particularly during the Covid-19 pandemic, startup founders and investors say.

Faith-based, for-profit apps attracted $175.3 million in venture funding this year through mid-December, up from $48.5 million in 2020 and $6.1 million in 2016, according to PitchBook Data Inc.