ThisNext Raises $5M

Santa Monica-based ThisNext has raised $5M in a Series B funding round, the firm confirmed today with socalTECH. The round came from the firm's existing investors, which includes Clearstone Ventures and Anthem Venture Partners. Gordon Gould, CEO and co-founder of ThisNext, said that the funding will go towards growth capital and hiring new people. Gould also said the funding will include additional debt in the next few days, and that the total raised will be between $7M and $8M. ThisNext operates a social shopping service which allows people to recommend products they like, look for user reviews, and interact with other shoppers. The funding follows a venture debt round in June of last year, and a Series A funding in February of 2006, worth $3.5M. The funding was first reported by Private Equity Hub. More information »