Location-based mobile gaming services provider SCVNGR has closed a new $15 million investment round, led by Balderton Capital, along with Google Ventures and Highland Capital Partners. Google Ventures
previously invested $4 million in the startup led by 22-year-old Princeton dropout founder Seth Priebatsch. "Similar to check-in games Foursquare and Gowalla, SCVNGR builds on that model by adding
tasks and challenges to check-ins," writes the Guardian
"SCVNGR attracted attention by
pursuing a more commercially focus [sic] in the first half of 2010, signing up 1,000 paying clients so far." The startup claims to have built half a million users in 20 weeks and is aiming for 1
million by the end of January. Meanwhile, it plans to use the new funds to help it expand gaming dynamics, so-called. Early brand partners include Coca-Cola, Sony Pictures and the New York Times. On
New Year's Eve, SCVNGR partnered with American Eagle airlines to advertise a charity game that asked players to complete challenges that triggered donations.
Read the whole story at Guardian »