Highland Leads $28.7M Digg Round

9/24/08Follow @bbuderi

Lexington, MA-based Highland Capital Partners led a $28.7 million Series C funding round in Digg, the San Francisco-based social news site announced today. Existing Digg investors Greylock Partners, SVB Capital, and Omidyar Network joined the round, which will be used to finance an ambitious expansion that includes doubling Digg’s staff to 150 by the end of next year. Digg had raised $11.3 million in its two previous rounds. Richard de Silva, a general partner in Highland’s Menlo Park office, will take a seat on Digg’s board. TechCrunch reported this summer that Google had walked away from a deal to acquire Digg for something on the order of $200 million.

Bob is Xconomy's founder and editor in chief. You can e-mail him at bbuderi@xconomy.com, call him at 617.500.5926. Follow @bbuderi

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