San Francisco, CA (PRWEB) September 19, 2008
RateItAll (http://www.rateitall.com), a distributed consumer rating web application that allows users to find, share and solicit opinions on any topic, has announced that it has raised additional funding, completing a $1.4M raise. Investors participating in the most recent funding include Launch Capital, Fabrice Grinda, Tim Stevens, and Ben T. Smith IV, as well as existing investors Pacific I&T Ventures and Eric Di Benedetto.
"We believe that the burgeoning consumer review market will continue to be a growth agent for online destinations' engagement and adoption," said Jorge Calderon, Director of Launch Capital's Palo Alto Office. "RateItAll's unique reviewer focused revenue sharing model, growing database and strength of founders contribute to the growing traction that made this the right deal for our investment."
In addition, Fergus O'Daly has joined RateItAll's Board of Directors. Fergus' many accomplishments include co-founding Poppe Tyson Advertising where he helped design Mozilla, the Internet's first Web browser, as well as co-founding DoubleClick. Fergus was named by New York Magazine as one of the "Cyber 60," the sixty most influential people building the Internet.
"Fergus has built world class companies, and participated in taking two companies public," says RateItAll CEO, Lawrence Coburn. "He is one of our industry's pioneers, and brings an immense depth of knowledge -- we are flattered that he has joined our Board."
Based in San Francisco, RateItAll is a distributed consumer rating community where visitors can find and share opinions on virtually any topic. All of the site's content is available for syndication via widgets, and RateItAll members share in the advertising revenue associated with their reviews. RateItAll's mission is to power the distributed exchange of the world's opinions.
About Launch Capital
Launch Capital is a premier early round venture capital firm with offices in Cambridge, MA; Palo Alto, CA; and New Haven, CT. Privately held, Launch Capital provides investment and strategic support to skilled entrepreneurs who are developing high impact companies to solve significant challenges for customers. Launch Capital's approach includes a strong belief that as responsible investors, they have an obligation to nurture portfolio companies using all accessible resources, including both internal expertise as well as a deeply skilled extended venture family. Launch Capital generally works with companies who are transitioning from concept to the validation stage of their product or service. While heavily weighted in technology, energy and consumer product goods, Launch Capital considers companies focused in other industries that have capital efficient business models. For more information visit: http://www.launch-capital.com
About Eric Di Benedetto
Eric Di Benedetto has been a professional investor in software start-ups for the last two decades. The aggregate market capitalization of companies Eric sponsored has reached several billion dollars. After a successful career as a venture capitalist, Eric established ActiveStarts as an angel investment firm focused on the coaching and financing needs of emerging software entrepreneurs. Eric's portfolio companies include Chegg, ClairMail, LendingClub, RapLeaf, RealTravel and Plastyc.
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