HitFix Spreads Its Wings With $1.8 Million Cash Infusion from Angels
LOS ANGELES, June 13, 2013 -- HitFix (www.hitfix.com), the top online destination for what’s new in entertainment, today announced that it has successfully raised a $1.8 million new round of funding. Amongst the investors are Tech Coast Angels (TCA), the nation’s largest angel investor network and managers of the Angel Capital Entrepreneurial Fund (ACE), Golden Seeds and Gordon Crawford. Best known for his 40-year career at Capital Group and dispensing wisdom to the titans of media, entertainment and technology, the now retired Crawford has committed a sizeable personal investment in the site.
HitFix is the fastest growing online entertainment news destination, reaching more than 4 million monthly unique users (with a higher concentration of the coveted 18-34 year old demographic than any of its competitors) and upwards of 50 million across its video distribution network.
“Since HitFix’s inception, founders Jen Sargent and Greg Ellwood have built the top editorial team in the business, strategically using its angel investments to lead consumer discussion and deliver top-notch content to its growing fanbase,” said ACE Fund’s Ray Chan. “Their continued success and high-rate of expansion to digital partners such as AOL, Hulu and YouTube makes us confident that our money is in good hands.”
“This latest round of funding continues to validate the work that our team does every day to bring the best entertainment content to our fans,” said co-founder and CEO Sargent. “We’re humbled by this sizeable investment from some of the biggest names in the finance space, which will allow us to expand our reach across all platforms.”
Since 1997, TCA has supported and funded more than 200 start-up companies. The ACE Fund gives both private and institutional investors the opportunity to access diversified, early-stage, game-changing entrepreneurial company investments that would otherwise be available only to experienced angel investors. For more information, visit http://www.techcoastangels.com/ace-fund.
ABOUT TECH COAST ANGELS
Tech Coast Angels is the largest angel investment organization in the U.S. founded in 1997. As a catalyst in helping build Southern California’s economy into a thriving center of technology and entrepreneurship, the nearly 300 members of TCA collaborate with each other on due diligence and then make individual decisions regarding potential investments. Providing more than just money, TCA brings connections, knowledge, mentoring and operational assistance to bold early-stage entrepreneurs with game-changing ideas. Not limited to the technology industry, members invest in exciting companies in a wide range of industries including biotech, consumer products, Internet, IT, life sciences, media, software and environmental, among others. TCA is a not-for-profit organization. For more information, visit http://www.techcoastangels.com/