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Gather.com, the social network and journalism site, has secured $10m in funding from investors including Hearst Corporation, The McGraw-Hill Companies Pilot House Ventures.
The move brings its total VC investments to around $17m.
Gather.com founder and CEO Tom Gerace says he plans to use the funding for international expansion and to expand partnerships with media companies:
“Socially created content is different from traditional media content. Social content has relevance and street cred because people can meet and interact with the authors.”
“With this investment, our investors capitalize on the rapid audience trend toward social content.”
Gather.com plans to continue with technology development next year. Toward the latter part of the year, the company will begin internationalising the site by adapting it for multiple languages.
Should Web 2.0 startups seek venture capital?