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Home > PE News > By PE Sector > Venture/Growth Capital

Local activity discovery engine LivingSocial raises $25m Local activity discovery engine LivingSocial raises $25m

11 Mar 2010. Source: AltAssets
LivingSocial, a social commerce company behind LivingSocial Deals and  Facebook applications Visual Bookshelf and Pick Your Five, has completed a $25m series B round of venture funding led by US Venture Partners, with Grotech Ventures and Steve Case's Revolution participating.

With this round of funding, LivingSocial Deals is launching in four additional cities: Chicago, Denver, Raleigh Durham and San Diego, making the program live in 13 markets across the US.  

LivingSocial is a local activity discovery engine – a platform for finding out what’s going on in and around the city. The application claims to have access to a community of more than 85 million people.

Ted Maidenberg, principal at US Venture Partners, said, "Local merchants deserve the ability to link online advertising spend with store visits, not just site visits. LivingSocial is at the forefront of a profound shift in the way local merchants engage with new and existing customers. This investment will allow them to continue to evolve the program and reach new markets so more merchants can reap the rewards of what LivingSocial has to offer."

Lead investor US Venture Partners is a Silicon Valley-based venture capital firm that has been investing since 1981.

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