Streetlife.com secures £600,000 as part of £3m funding mandate
Investment by Archant Digital Ventures in the social network start-up set to fulfil ambitious growth plans
Community social network, streetlife.com, has secured £600,000 funding in a deal led by existing investor Archant Digital Ventures and new investors Shohet & Cie. S.A.
London-based streetlife.com provides a platform that allows people to connect and share information, advice and resources with their local community with the main uses of the site including discussing local news, crime, planning proposals and public services.
It intends to use the investment to launch its service in new areas of the UK from September, introducing its brand on a county-by-county basis in order to build ‘thriving’ online communities.
With over 100,000 users in more than 500 areas so far, this latest round of funding forms part of its plan to raise a further £3m by the end of 2013.
The investment also marks continued growth for Archant Digital Ventures, the incubator arm of national media company, Archant, following its recent acquisition of planning application site PlanningFinder.co.uk just this week.
CEO and founder of streetlife.com, Matt Boyes, commented on the funding:
“We’ve shown that online interaction can facilitate real-world meetings, encourage people to become more involved locally, and enhance their sense of belonging. It’s a very exciting time for streetlife.com; this funding will enable us to bring the benefits of local social networking to new communities across the nation.”
Serge Taborin, managing director of Archant Digital Ventures, added:
“We are delighted with the extraordinary rise of the platform, which now provides a rich source of highly relevant local stories for our journalists, and we strongly believe that this latest round of investment will enable streetlife.com to accelerate its growth nationally.”