According to a recent SEC filing, the supposed “stealth startup” 5to1.com has raised $4.5 million – having closed a $2.2 million funding in April 2009 and another $2.3 million in June 2009. The SEC filings also say that the company has raised $2 million of a $3.2 million equity fundraising.
The investors in the Internet stars-studded startup include Fuse Capital, Prism Ventures and several angel investors.
Founded by two ex-Fox Interactive execs, Jim Heckman and Ross Levinsohn, the secretive 5to1 startup has yet to disclose what its area of operation would be, though there are hints of it being a “unique advertising marketplace”. Others associated with the startup include Dale Strang, Michael Barrett, Mark Stieglitz, and Woody Benson.
The new Internet business enterprise will probably operate from Seattle. In the SEC filing, the business, which was integrated in September 2008 in Washington State, mentions its corporate address in the University District in Seattle.
As per the corporate documents, Jim Heckman is the President of 5to1, Michael Barrett is its Chairman, and Levinsohn - a partner at Fuse Capital - is on the board of directors. The Web site of the startup is registered to Mark Stieglitz.
Heckman, who founded Rivals.com, Zazzle and Scout.com in the past, said that 5to1 is currently trying to function in “stealth” mode, with its launch planned in mid-2009.
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