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News and Information Article
Company Offers Internets First Socially-Accountable Relationship Community
Where Friends Vouch for a Singles Character, Play Matchmaker(TM) and Help
Each Other Find Love
SAN FRANCISCO, July 12 // -- Engage.com (http://www.engage.com), the
Internets first online relationship community where adults collaborate
with their single friends to help them in their search for authentic and
lasting love, today announced a $5 million Series A round of funding.
Advanced Technology Ventures (ATV) led the round, with current seed
investors Revolution Ventures, The Founders Fund and Josh Kopleman also
participating. Steve Baloff, a general partner at ATV, will take a seat on
the Engage board. Engage will use the financing for additional product
development, recruiting and marketing efforts.
According to a 2005 Jupiter study of the online dating category, only
28% of users of leading online dating services were satisfied with their
experience. "Engage promotes social accountability in dating by allowing
singles to invite a highly-motivated and caring community to help them meet
someone special," said Suneet Wadhwa, CEO and co-founder of Engage. "This
removes the social isolation that tends to foster inauthentic dating
behaviors plaguing other dating sites."
Recognizing that half of all marriages in this country are the result
of a personal introduction, often made by a friend, on Engage singles
invite their friends and family to Play Matchmaker(TM) for them, vouch for
their character and share their instincts and perspective about potential
romantic interests. This tried and true, socially-collaborative process of
finding love online borrows from how relationships actually form in the
off-line world.
"Engage captured our attention with a seasoned team and an innovative
offering that presents a better alternative to the outdated, and nearly
identical, business models of all the current dating sites," said Steve
Baloff of ATV. "Were convinced Engages collaborative and
socially-conscious approach to the relationship space provides singles with
a better path to love, and we look forward to actively participating in
that process."
Steve Baloff brings over 19 years of entrepreneurial, operating and
venture experience to the Engage Board of Directors. He founded and served
as CEO of Worldview Systems, a venture-backed start-up noted for creating
and launching Travelocity. Steve held executive positions in sales,
marketing and general management with Covalent Systems. During his tenure,
the company went from pre-revenue to over $20 million in revenues. His
career originated at Booz, Allen & Hamilton, where he focused on strategy
engagements for a variety of technology companies. Steve currently holds
Director roles with Alfalight, Browster, Compassoft, Liquid Engines,
Tripwire and WildTangent.
All adults, single or married, are welcome to play matchmaker and help
their single friends find love on Engage.com. Only singles can be daters.
While Engage remains in Beta, new members who are daters will receive a
free six-month membership, a $200 value. Its free to be an Engage
matchmaker.
About Engage.com
Founded by Suneet Wadhwa (co-founder of Snapfish.com) and entrepreneur
Karen Wallace, developed with 16-year dating industry veteran and former
Match.com executive Trish McDermott, and co-developed and endorsed by noted
relationship expert Dr. Robert Epstein, former Editor in Chief of
Psychology Today, Engage.com (http://www.engage.com) is the worlds first online
relationship community where friends help friends find love. Theres no
scientific testing required to meet someone. Love happens on Engage much as
it does in the real world -- in collaboration with your friends, the people
who know you and love you the best. Engage, a San Francisco Bay Area
company, is backed by Advanced Technology Ventures, Revolution Ventures and
The Founders Fund (partners Peter Thiel and Ken Howery, co-founders of
PayPal).
About Advanced Technology Ventures
Founded in 1979, Advanced Technology Ventures (ATV) is a bi-coastal
venture capital firm with more than $1.4 billion in capital under
management. We work closely with entrepreneurial teams in several
technology markets, including communications, IT infrastructure, software
and services, and healthcare technologies, to build emerging-growth
business ventures into market leaders. With more than 25 years of
experience, ATV has a proven track record of success in helping to build
strong, sustainable business enterprises. For more information, please
visit our Web site at http://www.atvcapital.com.
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