Going.com, the destination site and community for 20-somethings who want to know what?s happening in their cities, today announced $5 million in follow-on financing to be used to expand the popular service into new markets and expand their platform. Board members Bob Davis of Highland Capital Partners and George Bell of General Catalyst Partners, who are backing the firm, believe that Going.com is one-to-watch among Web 2.0 digital lifestyle companies.

Going.com offers a combination city guide and social network. The Web site presents an easy and fun way to find out what?s going on, with the added twist of offering a sneak peak into ?Who?s going?? to each event. Events are submitted by the community itself, which in addition to editorial suggestions delivers the best of what each city has to offer for the people and by the people. Whether members are looking to organize events with current friends or meet new people with similar interests, Going.com helps members plan their social lives.

The site has flourished in popularity, growing 1200% since January 1, 2007, to over 500,000 monthly visitors, while operating only in four cities: Boston, Chicago, New York and San Francisco. Members are looking not just for the best parties but for cultural and social activities, as well. Each city?s service operates locally tailoring content and features unique to particular regions.

?The next generation of digital lifestyle services will click on a local level both online and offline,? says Evan Schumacher, CEO of Going.com. ?We think providing a hyper local community connecting 20 some things with similar passionate interests in their urban city is just the beginning of a local media revolution.?

?Going.com has quickly become the thread that ties local communities together, both online and offline, at social events,? says Bob Davis, Managing General Partner at Highland Capital Partners. ?Such extraordinary growth in a short period of time demonstrates the incredible market demand for such a solution. Evan [Going.com CEO] and his team have done a great early job in exploiting this opportunity with a compelling service.?

Going.com?s current momentum is more than just a good time ? it?s good business. The site provides a vital link between entertainment and marketers developing branded events, offering a deeper experience for advertisers beyond traditional search and banner ads. As a community, Going.com members RSVPed for 150,000 events in May alone, demonstrating the power of an online community to mobilize offline. This summer, Going.com partnered with NBC Universal?s Focus Features to promote Academy Award nominee Don Cheadle?s film ?Talk to Me.? Instead of banner ads, the site offered free screenings to its users, resulting in sellout events in Boston, New York and San Francisco. Similarly, JetBlue Airways promoted its new service to San Francisco with a three-city music tour exclusively for Going.com members.

?I got hooked on Going.com when I realized that it was more than social networking with banners and links ? it was truly getting a targeted, hard-to-reach demographic away from their computers and out into the life of a city, which offers marketers an unusual double-whammy of online and location-based media impact,? says George Bell, Special Venture Partner at General Catalyst Partners.

Related Link: Going.com