DealsGoRound, a Chicago, IL-based start up that operates a daily deal secondary marketplace, has raised with its first venture capital funding round.
Investors include prominent Chicago-based business angels.
The company intends to use the funding for engineering development of the products and targeted customer acquisition.
Created in 2010 by CEO Kris Petersen and now operating in more than 50 cities nationwide, DealsGoRound is an online marketplace that brought buyers and sellers together to facilitate the resale or exchange of daily deals from popular sites like Groupon and LivingSocial.
The company also counsels sellers to include item specifics, business contact details and merchant locations. A purchase guarantee is also included in every transaction.
DealsGoRound already has over 2,500 buyers and sellers using the website.