Location-Sharing Community Developer GeoSentric Oyi Raises $13.1 Million Financing

Location-based social network developer GeoSentric Oyi has raised $13.1 million in funding. Horizon Group and Schroders Private Bank participated in the round. The Amsterdam-based company plans to use the funds to build up its marketing and sales teams internationally, as well as product development. Dan Harple, executive chairman of GeoSentric, said that the company originally sought to raise $5.5 million but that investor interest “compelled” the company to increase the size of the round. Release

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