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HiveLive Buzzes First Venture Capital Funding Round

Thursday, February 28, 2008 5:46:00 AM PDT | VentureDeal Staff

BOULDER, CO -- Online software company HiveLive, Inc. announced that it has closed its first institutional round of venture capital financing, raising $5.6 million.

HiveLive provides on-demand software to companies wishing to create social networks on their website.  Customer can choose from a number of formats that are suited to their individual goals.

Grotech Capital Group led the round which included other unnamed investors.  The company said it would use the funding to continue to grow sales and innovate product development.

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