Local News Venture Backfence Gets $3 Million Funding

bfence1.gifBackfence, the local news venture, which has till now launched three sites in Virginia area, has received $3 million investment from SAS Investors and Omidyar Network, among others. A small group of Washington-area angel investors also participated in the round, including Dr. Edward Bersoff, former CEO of BTG Inc.; Frank Bonsal Jr., co-founder of New Enterprise Associates; and John Burton, General Partner of Updata.

The company’s first two sites were launched in May 2005 in the Washington suburbs of McLean and Reston, Va., and the third site, in Bethesda, Md., launched earlier this month. It plans to develop sites in seven more Washington-area communities over the next several months. The company also has plans to expand to additional metropolitan markets, starting this winter, with a goal of operating 10 community sites each in 16 metropolitan areas within three years.

The company has also announced a heavyweight advisory team.

Related: Backfence.com Launches, Latest Hyperlocal Public Media Effort

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