Booyah, the Palo Alto, Calif.-based creator of the popular location-based mobile app MyTown, has closed a $20m round of financing.
The round was led by Accel Partners, with participation from existing investors Kleiner Perkins Caufield & Byers and DAG Ventures.
The new financing will be utilized to accelerate the company’s offerings.
Launched in December 2009, MyTown is a GPS game about buying and owning local shops, restaurants, and other properties on iPhone.
In conjunction with the funding, Booyah added Jim Breyer to its board of directors. Breyer currently is the lead & presiding Director of Wal-Mart Stores, Inc, (WMT), a Director of Dell, Inc (DELL), and a long-time investor & board member of companies such as Brightcove, Facebook, Etsy, and Marvel Entertainment (MVL).
Commenting on the addition of Breyer and the next steps of the company, Keith Lee, CEO, Booyah, was quoted as saying: “The combination of Jim’s expertise in real world retail and cutting edge digital media mirrors our dedication to creating the most compelling real-world experiences.
“MyTown is a bold step to achieving this goal and we have very exciting plans in the near future to move far beyond the check-in”, Lee added.
FinSMEs
17/05/2010