Foursquare raises $35 million in Series D, hits 45 million users
Foursquare has raised $35 million in a Series D round of funding. Less than a year ago, Foursquare raised $41 million in financing. Foursquare has raised a total of almost $150 million. Foursquare now has a valuation of over $600 million.
Foursquare used to be one of the most popular geolocation services, but many people started to switch over to Facebook Places and Yelp for “checking in” to a venue. Foursquare revamped their revenue model recently though. In the blog post, Foursquare said that they have hit 45 million users. This round of funding was led by DFJ Growth and Capital Growth.
“This investment means that we can build our vision even faster. And that you guys are going to see a lot more from our team,” said Foursquare in a blog post. “So with that, we wish the 45 million of you a happy holidays and a wonderful new year. We can’t express enough how thankful we are for your support, and we can’t wait to show you what we’re working on for 2014.”