San Francisco – Online social network Hi5 announced on
Tuesday that it has raised $14 million in its second round of funding, led by
Founded in 2003, San Francisco-based Hi5 currently counts
around 60 million members.
The company will use the funds to expand into social
gaming and virtual goods; Hi5 launched a virtual currency and gifts store in
late 2008, and a games channel in early 2009.
The company has now raised a
total of over $34 million to date.