Shopit Raises $2.5M

Los Angeles-based Shopit, a developer of online shopping widget software, said today that it has raised $2.5M in a Series B funding. The funding came from Toronto, Canada-based Emerson Ventures and Propulsion Ventures. ShopIt said that the round is the first tranche of a $7M capital raise planned for the firm. Shopit develops software which can be embedded in social networking profiles, blog pages, and on other web pages for selling products. The firm said the new funding will go to speed the development of its services, and towards hiring in advertising, sales, and technology in its Los Angeles headquarters. More information »