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hi5 Networks Raises $20 Million Expansion Round

Wednesday, July 25, 2007 5:00:00 AM PDT | VentureDeal Staff

SAN FRANCISCO, CA -- Social networking platform hi5 Networks, Inc. said that it has closed a first round of funding, netting $20 million in new investment.

The company operates a website that provides a platform for established and underground artists to gain prominence by showcasing their work.  Members voice their opinions on the art presented.

Mohr Davidow Ventures invested in the round.  Jon Faiber of Mohr Davidow took a seat on the company's board of directors.  Proceeds purposes were not disclosed.

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