GetGlue, a US-based social recommendation network for entertainment, closed a $12m funding round on Wednesday from investors including Time Warner Investments, a corporate venturing fund belonging to media conglomerate Time Warner.
The round was led by Rho Ventures, the venture capital (VC) division of private equity firm Rho Capital Partners, with participation from VC firm RRE Ventures and VC fund Union Square Ventures.
GetGlue’s online social network allows users, which as of the end of 2011 number more than two million, to check-in when they watch television shows, leaving comments and recommendations. Television networks can also use the site to run reward-based promotions for viewers.
Time Warner, RRE and Union Square are all returning investors, having participated in a $6m round for GetGlue’s parent company, AdaptiveBlue, in December 2010. AdaptiveBlue previously raised $4.5m from Union Square and VC firm Biltmore Ventures in October 2008, and $750,000 the year before.
The financing came as GetGlue updated its website and iPhone application with new features, and the company is promising to invest heavily in its platform this year. This will include enabling the ability to check-in from other applications and websites