SocialVibe Gains $9M

Los Angeles-based SocialVibe said today that it has raised $9M in a Series B funding, for the firm's social media and brand charity site. According to the firm, the funding was led by JAFCO Ventures, and also included Series A investor Redpoint Ventures. SocialVibe said it will use the additional funding to help aggressively grow its consumer and business partner relations, along with accelerating product development. JAFCO's Joe Horowitz joins the firm's board along with the funding. The firm, which allows people to raise money for their favorite charities by endorsing brands and products, said it now has nearly 500,000 members. More information »