Conduit collects $5.5M in first funding

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Cambridge-based Conduit Labs reports receiving a $5.5 million Series A round of funding.

Conduit is developing technology for what it calls the social online-entertainment space.

The investment round was led by Waltham-based venture capital firm Charles River Ventures and Westwood's Prism VentureWorks.

In addition to the financing, Charles River partner Susan Wu and Prism partner Will Kohler have joined the company's board of directors.

Currently in stealth mode, Conduit Labs was started by CEO Nabeel Hyatt, who began the company as an entrepreneur-in-residence at Prism. Hyatt was previously vice president of strategic alliances at MIT Media Lab spin-off Ambient Devices Inc. in Cambridge.

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