MyCityWay, a New York-based company that develops an interactive geo-location urban reference app, has raised $5m in financing.
As we said on Saturday, 26, 2011, investors include BMW i Ventures (read the news). Existing investors FirstMark Capital and IA Ventures also participated in the round.
The company intends to use the funding to continue its expansion into international urban markets and extend its city data information and business advertising to major metropolitan areas throughout Asia, Europe and Australia.
Originally developed by co-founders Archana Patchirajan, Puneet Mehta and Sonpreet Bhatia, MyCityWay has evolved into a mobile application that combines user interaction with city data, governmental information, and local businesses and services to create a complete consumer driven geo-location city guide available in more than 40 cities throughout the world.
The free application is available on iPhone, iPad, iPod, Android and BlackBerry mobile devices.