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Woozworld raises $6 million in new funding

Adds former Disney and ABC Radio exec Bernard Gershon to board of advisors

The Canadian online social network Woozworld has raised $6 million in series B funding.

The money came from Telesystem, iNovia Capital and several angel investors. Woozworld intends to continue the development and promotion of its user-generated social network, as well as expanding to mobile platforms.

"Since Woozworld first launched, our main objective has been to make it the number-one safe destination where tweens can creatively feed their imagination and innate desire to behave like young adults," said president and CEO Eric Brassard.

"The new funds will allow us to enhance Woozworld's already highly successful formula both online and, moving forward, on the mobile."

The company has also added Bernard Gershon to its board of advisors. Gershon previously held executive positions at The Walt Disney Company and ABC Radio Networks.

Woozworld launched in December 2009, securing $3 million in series A funding in May 2010, at which point it had 350,000 users and 1 million user-generated spaces.

Now, it has 15 million monthly unique visitors and more than 14 million user-generated spaces. The company has reported a monthly revenue increase of 30 per cent for each of the last 12 months.

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Matthew Handrahan

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Matthew Handrahan joined GamesIndustry in 2011, bringing long-form feature-writing experience to the team as well as a deep understanding of the video game development business. He previously spent more than five years at award-winning magazine gamesTM.

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