Los Angeles - DanceJam, the dance-oriented social networking and video site co-founded by musician MC Hammer, has received $3.5 million in new financing from Softbank Capital, Rustic Canyon Partners and several new angel investors, TechCrunch reported.

The company's service, which will allow users to upload and rate videos of themselves dancing, is currently in private beta but is expected to launch shortly.

DanceJam has now raised a total of $4.5 million.

Related Links:
http://snipurl.com/1zkxw (TechCrunch)

http://www.dancejam.com