Wednesday, September 24, 2008

Digg Uncovers $28.7M

San Francisco-based social news site Digg said Wednesday afternoon that it has raised $28.7M in a Series C funding round. The round was led by Highland Capital Partners, and also included prior investors Greylock Partners, Omidyar Network, and SVB Capital. According to the firm, the funding goes toward hiring staff and international growth, along with brand and market development. The company said it hopes to double the staff of the firm within 12 months, from 75 employees to 150 by December of 2009. Richard de Silva of highland Capital joins the firm's board as part of the funding.