CrowdGather Adds $7.85 Million In Part For Forum Acquisitions

CrowdGather, the very acquisitive community forums owner, has raised $7.85 million in a private placement by selling stock and warrants in what it is calling its “most significant financing round to date.” The publicly-traded company tells Venturebeat that it will use the cash in part to fund additional acquisitions.

Over the last several years, it has purchased a number of companies, including forum host provider Lefora and digital ad agency Adisn. Its losses totaled $3.4 million in 2010 (on revenue of just over $300,000), and the company had warned in the past that it would need “substantial” additional funds to “to support our expansion and product development programs.” Its network of forums currently gets about 4 to 4.5 million unique visitors a month.