Angie’s List raises $7 million


Fast-growing locally-based consumer service appraiser Angie’s List this morning announced it has raised $7 million from Chicago-based Prism Mezzanine Fund. The deal caps a year in which the company had previously raised $53 million from investors.

Prism will invest $1 million in exchange for an equity stake in Angie’s List. It also will provide $6 million in subordinated debt.

In 2008, Angie’s List already had announced a $35 million investment from Boston-based Battery Ventures and an $18 million investment from Menlo Park, Calif.-based Lighthouse Capital Partners.

In October, Angie’s List said it anticipated doubling its property holdings near its headquarters at 1030 E. Washington St. as part of its ongoing expansion.

Angie’s List, which now has 750,000 members in 124 U.S. cities, offers consumer ratings on local service providers in more than 400 categories.

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