Foursquare, a NYC-based geo-location social app, raised $41m in financing.
Backers included the Silver Lake Waterman growth debt fund, as well as convertible debt from all existing investors Andreessen Horowitz, O’Reilly AlphaTech Ventures, Spark Capital, and Union Square Ventures (USV).
The company intends to use the proceeds to continue to develop the platform and build tools for local businesses to connect with their customers.
Co-founded by Dennis Crowley and Naveen Selvadurai, Foursquare is a free app that allows users and their friends to share and save the places they visit, get personalized recommendations and deals.
The company has over 100 employees in New York, San Francisco, and London.