Crowdsourcing product development social network Quirky has raised $16 million in funding. Investors include Norwest Venture partners and RRE Ventures. The site connects inventors and entrepreneurs with participants who collaborate to help create a successful product. Quirky is also the subject of a reality series slated to air on the Sundance Channel at the end of August. [TechCrunch]

JiWire is a mobile ad company that has raised $20 million in a round of funding made by Trident Capital, Comcast Interactive Capital, DFJ, Panorama Capital, and Norwest Venture Partners. JiWire has raised a total of $45 million in funding thus far. JiWire has a location-based ad platform that runs on WiFi through 40 public WiFi networks. Last year JiWire acquired location based mobile shopping company NearbyNow. [TechCrunch]

BranchOut is a professional social network application for Facebook that has raised $18 million in Series B funding led by Redpoint Ventures. Accel Partners, Norwest Venture Partners, and Floodgate also participated in this round. BranchOut now has a total of $24 million in funding.

SocialVibe is a Los Angeles, California based social advertising software and technology company that has raised $20 million in equity funding. This round of funding was led by Norwest Venture Partners, Redpoint Ventures, Jafco Ventures, and Pinacle Ventures. Jeff Crowe (Norwest) will be joining the company board of directors as part of the funding. SocialVibe is led by Jay Samit and they plan on using the funding for growth. SocialVibe provides technology that invites consumers to participate in offers with brands in exchange for virtual goods. [SoCalTech]

Turn.com is an ad technology company that has raised $20 million in funding. This brings the company’s total funding to $57 million. This round is the fourth and it was led by Greenspring Associates. Turn plans to use the funding to expand in Europe. Other existing investors that participated in this round include Norwest Venture Partners, Trident Capital, Shasta Ventures, and Focus Ventures. [paidContent]

Australians Guy King and Bevan Clark launched RetailMeNot.com in 2007 at a cost of about $30. Recently the two have sold RetailMeNot.com for $90 million to WhaleShark Media. With about 95 million unique visitors per year, RetailMeNot.com is the most visited coupon website in the world.

Lending Club has raised $24.5 million in Series C funding from Foundation Capital, Morgenthaler Ventures, Norwest Venture Partners, and Canaan Partners.  The company now has a total of $52.7 million in funding.  The additional funding will be used to advance their existing platform which allows lenders and borrowers to avoid the middleman (banks) for investing among peers.  This round of funding will also be used for launching new products, marketing, and improving customer service. [PRNewsWire]

Norwest Venture Partners is a technology venture capital firm that is based in Silicon Valley, California. Norwest has invested early in many technology companies such as Kayak, Arbortext, Rackspace, MyYearbook, Playdom, Sulekha.com, Ngmoco, and Yatra.com. The company raised a new round of funding at $1.2 billion. This is the eleventh fund raised in the history of the firm and is the largest. The new round of funding will be used for international expansion. Norwest already has offices in India and Israel. The company has invested in Chinese companies as well.