Updated: The full amount Hot Potato raised is $1.4 million, per an SEC filing. Hot Potato, an online startup that hopes to connect people watching live events in real-time, has raised $1 million in a funding round led by First Round Capital and RRE Ventures, MediaMemo’s Peter Kafka reports. Tech incubator and investor Betaworks, along with serial angel investor Ron Conway, also participated.

The company describes itself on its website as “connecting friends and fans around live events in real time.” Kafka has some additional details, including that the Hot Potato’s product would allow users to sift through all the online conversations that might revolve around a big event, like a baseball game. Founder Justin Shaffer was previously the SVP of new media at Major League Baseball’s internet unit, MLB Advanced Media. Shaffer told us that he would not comment on the funding report but said the product is “quite close to launching.”