LivingSocial Raises An Additional $5 Million

D.C. based LivingSocial has raised an additional $5 million according to SEC documents uncovered by VentureBeat. The new round is a follow-on to the round first raised last July. The company has continued iterating on their product design, including their iPhone application and is focusing on expanding its group-buying deals service “Deals of the Day” that was launched over the summer.

The latest funding appears to be the company doubling down as it’s the same investors from before (Grotech Ventures, Steve Case and Jean Case) and LivingSocial’s current CEO Tim O’Shaughnessy became an investor as well. We reached out to Tim to get his thoughts on the latest round. Tim told us, “We’re excited about continuing to grow the business in 2010. Having the capital to really execute our plans means we can focus on just getting things done.”
LivingSocial has been one of the leading developers on the Facebook Platform since early on. The company has since expanded its efforts to the iPhone and we’d expect the company to continue in that direction. With more money in the bank, LivingSocial can continue to hire developers and build out the team further.