Foursquare, a New York-based global local search and discovery service mobile app, raised $45m in Series E equity funding.
The round was led by Union Square Ventures with participation from Morgan Stanley Alternative Investment Partners, DFJ Growth, Andreessen Horowitz and Spark Capital.
The company will use the funds to grow including hiring 30 new positions across sales, engineering and other functions.
Founded in 2009 by Dennis Crowley, the former CEO who will become executive chairman of the company, and now led by newly appointed CEO Jeff Glueck (the former COO), Foursquare provides an app that allows users to discover new places, with recommendations from the community of more than 50 million people, check in and share the places they are in real-time with friends.
The company has also introduced tools for advertisers with a platform to optimize ad analytics, targeting and measurement; for developers with hosted technology and data to build context-smart, location-aware apps, and for enterprises and analysts, with Place Insights product, which informs business decisions with a large dynamic panel of global foot traffic data.
Foursquare also has offices in San Francisco, and teams in London and Chicago.
FinSMEs
15/01/2016