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Location-Based Mobile App Startup Geodelic Raises $7 Million

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Geodelic, which is behind the popular location-based smartphone app of the same name, has raised $7 million in a second round of funding. The company’s app — which is available for the iPhone and Android — automatically pulls information about a user’s surroundings; for instance, users can click on an icon for “coffee shop” or for “bars and nightclubs” and immediately see listings for corresponding locations near to where they are. Geodelic says that eliminates the need for users to search for specific keywords on their phones or to switch between multiple apps. The company also lets advertisers send offers to its users based on where they are.

So far, the Geodelic app has been downloaded more than 500,000 times on Android. The company didn’t say how many times its app has been downloaded on the iPhone (where it gets some pans for out-of-date listings) but did say that a version for the Blackberry is coming next.

The round was led by new investor MK Capital; existing backers Clearstone Ventures and Shasta Ventures, which led Geodelic’s $3.5 million first round last year, also participated. The company was founded by by Rahul Sonnad, who previously helped start thePlatform, which was acquired by Comcast (NSDQ: CMCSA) in 2006.

2 Responses to “Location-Based Mobile App Startup Geodelic Raises $7 Million”

  1. Hi There, I have to say that I think this application will have even more success in the near future. As long as the super social factor does not get implemented into the app it has the potential to stay current and popular. Checkin fatigue is on the rise, catered advertisements are a current trend in marketing but i think that we have enough social networks to get our chat on. eventually people are going to get sick of being “influenced all the time”. It is a matter of opinion, I am sure that many people will disagree with me on the subject but advertising should be applicable only when the product matches a persons demand exactly, and further than that, only when that good is being searched for.i for one am sick and tiered of my phone becoming a social tool of others.

  2. How is this worth $7M more than AroundMe? Because it has cute icons? Doesn’t make sense, didn’t the investors look at the competition in the iPhone AppStore?