CrowdGather Raises Funds, Settles Litigation

US-based online community provider CrowdGather has raised the final $400k of a $1m Series B round of financing, and will use the proceeds as working capital and to launch a forum-based ad network in early 2014. The firm has also settled pending litigation.

Launched in 2008, CrowdGather hosts a portfolio of special interest forums and enthusiast message board communities, serving as a network for members, forum owners and advertisers. The company faced a copyright infringement lawsuit brought by photo agency BWP Media, but says it has now 'successfully' settled the case.

Chairman and CEO Sanjay Sabnani (pictured) comments: 'Two of our most significant risk factors, a lack of operating capital and the threat of uncertain litigation costs, have been addressed to our satisfaction. With those two factors addressed, we have a renewed focus on our business and will deploy new working capital to complete our technology projects and carefully expand our sales force.'

Web site: www.crowdgather.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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