Hammer Time: DanceJam Raises $3.5 Million

MC Hammer's DanceJam.com has raised another $3.5 million in funding, bringing their total to $4.5 million raised.

DanceJam aims at becoming a dance-oriented version of YouTube, where users hang out and watch people dance, learn how to dance, or show off their moves online.

They’ve closed a Series B round of financing from Softbank Capital, Rustic Canyon Partners and a number of new angel investors.

The company, founded by M.C. Hammer and Flock’s Geoffrey Arone and Anthony Young, is currently in private beta.