Summary:

Compass Labs, the stealth-mode search and social media-focused startup founded by *Google* and *Yahoo* vet Dilip Venkatachari, has raised $1…

Laptop and money
photo: 1suisse

Compass Labs, the stealth-mode search and social media-focused startup founded by *Google* and *Yahoo* vet Dilip Venkatachari, has raised $1 million worth of a $1.1. million round of funding, per an SEC filing. Venkatachari confirmed that New Enterprise Associates (NEA) participated in the funding; he previously served as an EIR at the firm.

Venkatachari kept mum on specific details about the Cupertino, Calif.-based startup’s product, but judging from his background, there will likely be a mobile component early on: He spent two years as director of mobile ad products at Google (NSDQ: GOOG), and was on the board of directors of dotMobi before that. Before joining NEA, he served as Yahoo’s VP of insights data strategy. The filing also lists Arjun Jayaram, currently VP of engineering at comparison shopping engine Become.com, as one of Compass Labs’ executive officers.

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