Citysquares.com Raises Series A Financing Round
Posted by Sebastien on the 2007/04/27 at 06:43
in Ben Saren, Boston, Citysquares, Funding & Transactions, Hyperlocal, Traffic, eCoast Angel Network -
Just received this news from my friend Ben Saren. His company, Citysquares.com, just raised its series A funding round from eCoast Angel Network. The amount was not disclosed. Up until now, the site was self-funded. The company will use this investment to expand its sales and marketing operations and improve the user experience on its website. CitySquares.com is a Boston-area hyperlocal web site.
Ben sent me this article providing more details about the deal and CitySquares itself:
Ben Saren founded Citysquares with partner Bob Leland with the intention of providing neighborhoods in the Boston area with a meeting place on the web — each designed around the qualities that make that neighborhood unique. In 2005 the pair launched sites for seven neighborhoods in Somerville and Cambridge; the company now covers 25 separate communities from South Boston to Allston/Brighton.
While Saren would not disclose specific traffic numbers for the various sites included in Citysquares, he said the following has been loyal, and the five-person company has experienced traffic growth climbing at what he describes as a better-than 45 degree angle over the past year. Forty percent of the sit