Xconomy | Boston - Business + Technology in the Exponential Economy

Hangout Adds $4M to Series A Round

Boston-based Hangout Industries, which runs the teen social virtual world Hangout.net, has extended its Series A financing round by $4 million, CEO Pano Anthos confirmed today after documents on the financing surfaced online yesterday. Highland Capital Partners and Polaris Venture Partners put up the funds, which bring the company’s total financing to $10 million, including a $1 million seed round and a $5 million first tranche in the Series A round. Hangout came out of stealth mode last September, and recently hired former Disney exec Mike Goslin and opened a West Coast office as part of an effort to focus the online property on entertainment, social interaction, and virtual goods sales.

Wade Roush is Xconomy's chief correspondent. You can e-mail him at wroush@xconomy.com, call him at (617) 252-7323, or follow him on Twitter at http://twitter.com/wroush.

Comments | Reprints | Share: