Ello.co Raises $5M Round of Financing

elloEllo, a community-supported social network, raised $5m round of financing.

Backers included Foundry Group, Techstars Ventures, and FreshTracks Capital. In conjunction with the funding, Mark Solon, managing partner at Techstars Ventures, will be joining the Ello board.

The company intends to use the funds to add new features including private messaging, private groups, and loves and launch the mobile apps for iOS and Android.

Led by CEO Paul Budnitz, Ello is a social network free from advertising, manipulation, and exploitation. The company has just announced the rollout of Ello Beta V2 today, with full screen image posting & browsing, and an interface that acts and feels more like an app than a web site. New features include full-screen browsing and navigation, expanded search, improved discovery, drag & drop editing, drafts, rich publishing and more. CodePen integration allows developers and hobbyists to write web apps and embed them right into their Ello posts.

Ello is a for-profit public benefit corporation (PBC) located in Burlington, Vt.



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