PROfounders Capital
CitySocialising

CitySocialising raises £1m in Series A round led by PROfounders Capital

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CitySocialising, the subscription-based social network that lets members find local and likeminded people to socialise with in the real world, has secured £1m in a Series A round led by PROfounders Capital, the European VC fund backed by the likes of Brent Hoberman and Michael Birch.

PROfounders’ previous investments include Made.com, TweetDeck and Keynoir, while CitySocialising’s original early-stage funding in March 2009 was provided by the London Business Angels network. The new investment will be used for product development and expansion, including mobile, along with recruitment of “key Executives” including Marketing and Business Development Director and Product Manager.

In comparison to the plethora of social networks that target mostly online activity, CitySocialising is focusing on what it calls “Online2Offline” socialising around interests and events locally as a way to meet new people. Founded in January 2007 by ex-BBC producer Sanchita Saha and with R&D funding from The Prince’s Trust, the London-based startup now reaches 50 cities across the UK. The social network claims over 100,000 users and delivers more than 600 group ‘socials’ every month across the country organised and hosted by users and by local Community Managers, the latter of which very much drive local expansion.

Interestingly, CitySocialising says that its user base consists mostly of “city newcomers and re-locators” who want to explore their new surroundings and build a social network from scratch, along with “city locals and settlers” seeking to expand their social circle beyond the usual suspects.

  • http://www.deskpro.com Chris Padfield

    Congratulations Sanchita; it’s been great to see CitySocialising progress so rapidly.

  • http://jetlib.com/news/2010/12/07/citysocialising-raises-1-million-in-series-a-round-led-by-profounders-capital/ CitySocialising Raises £1 Million In Series A Round Led By PROfounders Capital | JetLib News

    […] Read the rest of this entry » […]

  • A CS Fan

    Congratulations to everyone at CS.

  • http://www.ojointernet.com/noticias/citysocialising-adquiere-1m-de-libras/ CitySocialising adquiere 1M de libras

    […] dinero de la nueva inversión, según publica TechCrunch, será utilizado para desarrollar el producto y expandirse, incluyendo la versión móvil, así […]

  • http://www.meetingwave.com jb

    Smart to focus on individual cities first. “Group socials” sound like meetups, with more of a social focus. There are a few similar sites in the US focusing on offline meetings. Someone might need to build an aggregator soon.

  • http://www.NetParty.com Jeff Strank

    We at NetParty.com believe “social networking” encompasses making new connections not just “sharing” among your current social graph. We sponsor large offline events in many US cities and will be launching services in 2011 that seek to further merge the online and offline worlds. Apologies for the self-promotion and congratulation to CitySocialising.

    • social server

      ride on someone elses wave why donchya…

    • Cam Rakel

      1. Jeff, with over 100k users, from 2008, surely it must have taken lots of hard work to get where you are currently. Congratulations.
      2. @SocialServer – there is no harm in self-promotion. it takes guts to launch own start-up and sustain without any external fundings. Sanchita and Jeff both have done it so far. Whereas looking at your later comment to Sanch”Wonder if there is any pay back for the free work + advice I gave when they started”, it shows that you are the one who is looking to ride on Sanchita’s success, and not Jeff !. Surely the advice must have been crap that you are still not paid until 4 years have passed and were not invited again… why bother…
      stop advising and get real mate…
      Best wishes to all the budding entrepreneurs out there…

      • social server

        cam, you have no idea who I am, what I do / did or my relationship with the aforementioned. Just saying like. You utter a’hole.

        The tongue in cheek smiley I included in my post I thought might give a clue that the comment was just that. Guess it needs to be even more obvious to a retard like yourself.

        If I really wanted money for advice / work I would of asked for it at the start, I didn’t because there are words that might be unfamiliar to you called friendship and helping others.

        You know nothing so stfu, ta :)

      • http://www.netparty.com Jeff Stank

        Thanks, Cam. I appreciate what you wrote but I would say that I did have the thought, in (nearly immediate) retrospect, that my post was likely bad form.

        Having said that, I was actually motivated to comment in response to the many Techrunch posts recently about Facebook alternatives, Diaspora, the “Facebook Juggernaut,” etc, posts that garnered many hundreds of comments but none of which seem to consider social networking as something potentially broader than just sharing among people you already know. CitySocialising seems to be a kindred spirit in seeing the value of services that foster new connections online and offline and, beyond the self-promotion, I was trying to make that larger point. Anyway, thanks again.

      • http://www.netparty.com Jeff Strank

        But having said that, if I had to redo the above comment, I’d definitely strive to spell my last name correctly.

  • social server

    congrats to Sanch :)

    Wonder if there is any pay back for the free work + advice I gave when they started :P

  • http://london.citysocialising.com Shariff

    BTW, CitySocialising is looking for some kickass developers too. More info here: http://london.citysocialising.com/static/jobs/developers.html

  • Digitalle

    Instead of hiring staff why not outsource your development, that way you reduce your overheads / liabilities and you can focus on building the business instead of building the site – my company digitalle would be happy to quote!!

  • Digitalle

    Instead of hiring staff why not outsource your development, that way you reduce your overheads / liabilities and you can focus on building the business instead of building the site. We can also provide a complete IaaS platform so you could grow as you need – my company digitalle would be happy to quote!! Best, Rupert Hurley, CEO

  • Bush

    I do not see the distinctive difference between Citysocialising and Meetup!! What is the USP of Citysocialising compared to Meetup?

  • http://margowege.wordpress.com/2010/12/11/citysocialising-raises-1m-in-series-a-round-led-by-profounders-capital/ CitySocialising raises £1m in Series A round led by PROfounders Capital « Margowege's Tech & Gadget Blog
  • http://www.swedishmatchmakers.com/ Laura Lovely

    Great idea for a site, good luck to them

  • http://bootlaw.com/2010/12/20/citysocialising-gets-social-with-profounders-capital/ Bootlaw – Essential law for startups and emerging tech businesses – Citysocialising gets social with Profounders Capital

    […] reported on Techcrunch earlier this month and on Citysocialising’s blog, the new investment will be used for product development and […]

  • http://www.citysocialising.com Sanchita Saha

    Thanks for the congrats all.

    Sorry Bush only just saw your post. The main difference between CitySocialising and MeetUp is that where MeetUp focusses on groups meeting around a specific passion/interest, CitySocialising is geared around things you like to doing in your city (e.g. going for drinks, for dinner, the theatre, cinema, galleries) as well as interests.

    Also – you dont have to be interested in anything in particular other than meeting new people and new friends in your city to be a part of the CitySocialising community.

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