Michael Hagan

Michael J. Hagan is an American entrepreneur and investor based in Boston, Massachusetts. He is the Founder and Managing Partner of Crosscut Capital, a Boston-based investment firm he established in 2022.^[4] He is best known as the co-founder of LevelUp, a mobile payments and restaurant loyalty platform that was acquired by Grubhub for $390 million in cash in 2018.^[25][23]

Hagan's career spans more than two decades of building and investing in technology companies. He co-founded his first venture, TheCollegeWeb, while a student at Drexel University around 2002, before joining location-based gaming startup SCVNGR as COO in 2008 and co-founding LevelUp as a spinoff product in 2011.^[4][4] Following the Grubhub acquisition, he transitioned into venture investing and advisory roles, founding Crosscut Capital and serving on the board of GromaCorp.^[4]

Hagan attended Drexel University in Philadelphia, Pennsylvania, where he earned a Bachelor of Science in Business Administration with a concentration in Information Systems, graduating in 2003.^[23] While still a student, he co-founded TheCollegeWeb, an early college social network, around 2002.^[4][6] According to his FutureM 2012 speaker biography, Hagan built two companies before joining LevelUp, the first of which he started while at Drexel.^[6]

TheCollegeWeb (2002–2004)

Hagan co-founded TheCollegeWeb around 2002 while an undergraduate at Drexel University. The venture was an early college social networking platform that, according to Hagan, predated Facebook's 2004 launch.^[4] Details about the company's scale, funding, or outcome have not been publicly documented. The exact end date is uncertain, with sources placing it between 2003 and 2004.^[6]

Dreamit Ventures (2008)

In 2008, Hagan served as a Strategist at Dreamit Ventures, a Philadelphia-based startup accelerator.^[25] The role coincided with SCVNGR's participation in the Dreamit cohort, and Hagan's involvement with the accelerator led directly to his joining SCVNGR as its Chief Operating Officer.^[4][20] Dreamit later cited the LevelUp acquisition as one of its most notable portfolio outcomes.^[25]

SCVNGR (2008–2011)

Hagan joined SCVNGR, a location-based mobile gaming startup founded by Seth Priebatsch, as Chief Operating Officer in 2008. His internal title was "Chief Rockstar," reflecting the company's culture of unconventional job titles — Priebatsch held the title "Chief Ninja."^[6][23] SCVNGR raised $4 million from Google Ventures in December 2009^[22] and a subsequent $15 million round in January 2011 at a reported $100 million valuation, with participation from Google Ventures, Balderton Capital, and Highland Capital Partners.^[10][21] At the time of the 2011 raise, SCVNGR had 51 employees and over 1.5 million users.^[21][25]

LevelUp (2011–2018)

In March 2011, Hagan co-founded LevelUp as a product within SCVNGR, Inc. The concept emerged from a gap Hagan and the SCVNGR team identified: the gaming platform could show merchants detailed social engagement metrics but could not close the loop on actual point-of-sale results.^[24][21] LevelUp launched simultaneously in Boston and Philadelphia on March 10, 2011, with Hagan personally leading the Philadelphia event — a return to the city where he had attended Drexel and worked with Dreamit Ventures.^[4] The product initially operated as a gamified daily-deals alternative to Groupon, rewarding repeat visits to local merchants rather than one-off discounts.^[24] By mid-2011, LevelUp pivoted to focus on QR-code-based mobile payments, loyalty rewards, and CRM for restaurants.^[22]

LevelUp raised approximately $108 million across 13 funding rounds over its lifetime.^[25] Key rounds included a $12 million raise in June 2012,^[22] a $21 million round completed in August 2012 with $9 million from T-Ventures,^[25] and a $50 million round in May 2017 led by JPMorgan Chase, U.S. Boston Capital, and CentroCredit Bank.^[18] Investors over the company's life included Google Ventures, Highland Capital Partners, Balderton Capital, and JPMorgan Chase.^[19][18] By 2017, LevelUp served over 200 restaurant brands — including sweetgreen, Tropical Smoothie Cafe, and Potbelly Sandwich Shop — across more than 50,000 locations, with one million monthly app users.^[18][19] The platform processed approximately 100,000 orders per day at the time of its acquisition.^[20]

Hagan held the titles of Co-Founder and Chief Sales Officer / COO through approximately January 2017, then transitioned to Chief Strategy Officer.^[6][4] On July 25, 2018, Grubhub announced it would acquire LevelUp for $390 million in cash.^[25][21] The acquisition closed on September 13, 2018, with a net purchase price of approximately $369.7 million after adjustments for cash acquired.^[23][22] Grubhub's share price rose 12% on the announcement.^[20] At the time of the acquisition, LevelUp employed approximately 220 people in downtown Boston.^[25]

Downeast Cider House (2018–present)

Following the Grubhub acquisition, Hagan took on an advisory role at Downeast Cider House, a Boston-based craft hard cider company.^[4] The advisory engagement reflects his continued involvement with consumer-facing brands in the Boston food and beverage ecosystem. Specific details about the scope of the advisory role have not been publicly documented.

Crosscut Capital (2022–present)

In 2022, Hagan founded Crosscut Capital, a Boston-based investment firm where he serves as Managing Partner.^[4] The firm is distinct from the unrelated Crosscut Ventures based in Santa Monica, California. Crosscut Capital represents Hagan's transition from operating roles to venture investing following his LevelUp exit. Details about the firm's fund size, portfolio, and investment thesis have not been publicly disclosed.

GromaCorp (2023–present)

In January 2023, Hagan joined the board of directors of GromaCorp, a Boston-area company operating at the intersection of real estate and digital assets. He was appointed alongside Matt Walsh, a partner at Castle Island Ventures.^[4]

Mr. KnowShows

Hagan founded Mr. KnowShows, a consumer discovery platform serving as a comprehensive directory of live music and comedy events.^[4] The venture appears to operate as a side project concurrent with his work at Crosscut Capital. Launch dates and operational details have not been publicly documented.

Fire & Knives (2025–present)

In 2025, Hagan launched Fire & Knives, a program focused on teaching life skills to young people.^[4] The initiative is in its early stages, with programming planned for summer 2025. It operates alongside his primary role at Crosscut Capital.

Hagan is based in Boston, Massachusetts, where he has lived since at least 2011.^[4] He maintains ties to Philadelphia through his Drexel University education and early career at Dreamit Ventures.^[23][25] Hagan is a runner and has trained for the Boston Marathon.^[4]