Booyah is the parent company of the MyTown location-based check-in service that competes directly with Gowalla and Foursquare. Booyah has raised $20 million in funding from Accel, Kleiner Perkins Caufield & Byers, and DAG Ventures. Accel partner Jim Breyer will be joining the board of directors at Booyah.

Location-based check-in service Booyah has hit 2 million users. The company is on track to hit about 500,000 users per month very soon. Booyah was designed by a company called MyTown and they reached the 2 million milestone this past week. Foursquare has about 1.1 million users and Gowalla has about 250,000 users. [TechCrunch]

According to an SEC filing, Booyah! has raised a second round of funding. Booyah designs iPhone applications and games that allow users to earn points when achieving real life situations such as going to the gym and learning new recipes. The achievements are then shared with other friends.

Booyah is based in Palo Alto, California and previously raised $4.5 million in funding from Kleiner Perkins. The SEC document did not list who participated in this round of funding.

Booyah is an iPhone application development startup company that is based in Palo Alto, Calif.  The company was founded by Keith Lee, Brian Morrisroe and Sam Christiansen, who have all had some sort of gaming experience.  Lee was one of the head developers for the Diablo III franchise.  Booyah recently announced that they have raised $4.5 million in Series A funding from Kleiner Perkins Caufield & Byers’s iFund initiative.

“We were immediately compelled by the promise of Booyah and the background of the founders,” stated Kleiner Perkins partner Matt Murphy in a press release.  “The iFund was created to help build the most promising and innovative businesses that utilize the discrete capabilities of the iPhone and iPod touch. Booyah is a terrific example.”

Last month Kleiner Perkins invested in Ngmoco, another iPhone gaming company.  Booyah has not announced when their product will be launching, but it is expected to revolve around MMO.  Booyah currently has beta sign ups on their website.