SCVNGR Raises $4 Million From Google Ventures And Others


Boston-based SCVNGR has raised $4 million from Google (NSDQ: GOOG) Ventures and its existing investor Highland Capital to continue building out its location-based platform for mobile phones. As part of the investment, Google’s Rich Miner will sit on the board.

TechCrunch reports that the financing occurs just weeks after the company said it is cash flow positive and has more than $1 million in revenues during its first year in business. SCVNGR helps other companies build their own location-based services. For instance, dozens of major universities have used technology to give campus tours, and major companies use the scavenger hunt aspect for team-building exercises. SCVNGR will apparently need the cash for expansion. In the past 11 days, it has hired six new employees, which doubles the company

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