Additional angel investments from leading technologists and entrepreneurs including Steve Case, Ted Leonsis, Dave Morin, Kevin Colleran and others
WASHINGTON, D.C. (June 19, 2013) — SocialRadar, Inc. (www.socialradar.com) today announced it has secured $12.75 million in Series A funding led by New Enterprise Associates (NEA), Grotech Ventures and SWaN & Legend Ventures.
Also participating in the round are angel investors and technology leaders, including: Steve Case, co-Founder of America Online and Ted Leonsis, Owner & CEO of Monumental Sports & Entertainment, who both participated in the financing as angel investors; Dave Morin, co-Founder and CEO of Path; Kevin Colleran, Venture Partner at General Catalyst Partners and one of the first ten employees of Facebook; Steven Gruber, Managing Partner of Oak Hill Capital Partners; Mark Ein, CEO of Venturehouse Group and Owner of the Washington Kastles; Roger Novak and Jack Biddle, Founders of Novak Biddle Venture Partners; Matthew Pittinsky, CEO of Parchment and co-Founder of Blackboard; Tom Davidson, CEO of EverFi; Dan Cane, CEO of Modernizing Medicine; Andrew Rosen, General Manager of Education Technology at The Advisory Board; Peter Corbett, CEO of iStrategyLabs; Dan Mindus and NextGen Angels, a DC-area angel investor group; and a number of other individual investors and market leaders.
“SocialRadar is on the cutting edge of developing social location-based technology. Today over 1.1 billion people have smartphone devices that can broadcast their locations, and over 2.8 billion people have social profiles online. In the future, technology will inevitably combine the smartphone’s location with the power of social networks enabling users to walk into a room and be aware of the people and connections around them. SocialRadar is developing that technology today for the iPhone, Android and Google Glass,” said Michael Chasen, the President & CEO of SocialRadar. “I could not be happier that some of the leading venture capitalists and technology experts have come together to invest in this vision.”
Joining SocialRadar’s Board of Directors will be Dayna Grayson from NEA, Steve Fredrick from Grotech Ventures, Fred Schaufeld from SWaN & Legend Venture Partners and Kevin Colleran.
SocialRadar is led by Founder and CEO Michael Chasen, the co-Founder and former CEO of Blackboard, Inc. During Chasen’s 15-year leadership tenure he grew Blackboard to be a global leader in enterprise education technology serving over 20,000 institutions worldwide and over 30M users. Chasen took Blackboard public in 2004 and then sold it to Providence Equity Partners in 2011 for $1.7B.
Matthew Lynch at District Capital Partners acted as financial advisor to SocialRadar through the process and Michael Lincoln at Cooley LLP served as legal counsel.
SocialRadar is accepting registrations for its beta at www.socialradar.com. Continue reading