Media Chaperone, a Chicago, IL-based developer of a Facebook application that helps parents manage their children’s Internet gaming use, raised $1m in its first venture capital funding.
The round was led by Leo Capital Holdings, with participation from Hyde Park Angels.
The company intends to use the funds to expand services and features of its free application Piggyback™, which provides parents with information, parental controls and protection for their child’s online learning and play. It allow parents to obtain a real-time overview of how their children are navigating the web within online gaming environments, social networks and virtual worlds and manage entertainment expenditures and credit for continued gaming.
Piggyback has already been integrated within several popular online gaming environments, social networks and virtual worlds including Whyville.net, Planet Cazmo, Woozworld, Everloop and Webosaurs, among others.
In conjunction with the funding, Randy Rissman, Managing Director of Leo Capital, and Doug Moneison from Hyde Park Angels, will join Media Chaperone’s board of directors.
Launched in 2009, the company is currently led by co-founder and CEO Ed Lewis.
FinSMEs
24/02/2011