Fortune’s coverage of Ello:
The buzzy social network with an anti-advertising mission takes small, important steps toward eventual revenue generation.
But someone did invest—again. Ello revealed on Thursday that it raised $5.5 million in a Series A funding round. The company also announced that it has become a legal public benefit corporation, or PBC.
It had already been reported that Ello raised $435,000 in seed funding from Vermont-based FreshTracks Capital in March. Its new Series A round is led by FreshTracks and two Boulder-based groups: Bullet Time Ventures (an investor in Jukely, a live event recommendation service) and Foundry Group (which invested in fitness tracking firm FitBit and crowdfunded apparel retailer Betabrand).
Click here to read the coverage: Ello as a Business.