SCVNGR Raises $15 Million With $100 Million Valuation

Geo-location service SCVNGR has raised $15 million in funding with a $100 million valuation. The funding in SCVNGR was led by Balderton Capital. There was also participation from Google Ventures and Highland Capital Partners. Balderton partner Barry Maloney will be joining the board of directors at SCVNGR. This round of funding puts SCVNGR’s total funding close to $20 million. Right off the bat, people believe that SCVNGR competes with Foursquare and Facebook Places. But SCVNGR has more of a focus on gaming and challenges like trivia. Local venues can customize the games on SCVNGR. [TechCrunch]

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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