Monday, November 20, 2006

Gather.com Totals $17M Investment

Gather.com, the social network and citizen journalism site that was seriously lacking when it launched at the start of this year, has completed a further $10 million round of financing led by Pilot House Ventures Group that also included media companies Hearst Corp and McGraw-Hill Cos. Money also came from Jack Connors, chairman of ad agency Hill Holliday, and Gather.com’s founder Tom Gerace. They want to use the funding to partner with leading media properties and expand internationally, they say. This company has raised a substantial sum - add this to the funding they received in 2005, and they must have raised around $17 million so far (PaidContent did the math).

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