San Francisco-Based DebtGoal Raises $2 Million in First Round

San Francisco -- DebtGoal, the San Francisco-based developer of an online do-it-yourself debt reduction program, said on Wednesday that it has raised $2 million in its first round of funding, led by Tugboat Ventures of Palo Alto. New Cycle Capital and Ed Ojdana, the founder of FreeCreditReport.com, also participated. Including an earlier seed round, the company now has raised $3.1 million since its launch in late 2008. "This latest investment will help us continue to grow and expand our debt management services," said CEO Scott Crawford.
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