Hollywood Interactive Group has announced that it has raised $5 million in Series A equity, with investment led by BlueRun Ventures. This funding is to be used to develop the company’s "slate of multi-platform content initiatives," with the first project MyHollywood.com; a women’s web destination for "celebrity and entertainment news, casual games, fashion and community."

The site is currently in public beta, and specifically targets women 18- 34 who enjoy casual gaming – intending to offer games that gives them a "more tangible connection to Hollywood than tabloids and television shows" by offering experiences is "rooted in real-world news and events" (content and game play is to be updated to reflect breaking news.)

The "centerpiece" of MyHollywood.com is to be an MMOG, Red Carpet, in which players are to try and achieve progressive levels of celebrity via celebrity-themed mini-games, answering quizzes about breaking news and headlines, and referring new players to the game. Successful accumulation of points is to allow players to collect branded virtual items, establish a place to live and gain access to VIP areas.

The site is slated to be officially launched in early 2009.

“This funding represents a tremendous vote of confidence in MyHollywood.com and recognizes the incredible revenue opportunities driven by our audience on the Internet,” said Joey Carson, Chief Executive Officer, Hollywood Interactive Group. “BlueRun Ventures has been a great strategic partner and ally for our business and we look forward to their continued support as we develop the first MMO experience designed specifically for the millions of women who love celebrity news, casual games and shopping.”