<http://schema.org/articleBody>
"SCVNGR, the location-based mobile app that bills itself as a game layer for the real world, has closed $15 million in a Series C round led by Balderton Capital, a European early stage venture firm. Original investors Highland Capital Partners and Google Ventures also participated in the round.\nAs part of the deal, Balderton Capital partner Barry Maloney is joining SCVNGR's board; his addition will help the team build a foundation for international expansion.\nThe round is quite large for a startup that claims to have a solid business model in place with \"revenue through the roof\" \u2014 SCVNGR has upward of 1,000 paying partners who use the platform for mobile campaigns. Just yesterday, SCVNGR closed its biggest deal to date, according to CEO and founder Seth Priebatsch.\nPriebatsch explains that the infusion of cash will enable SCVNGR to grow faster and will be used specifically to expand the team, build for additional platforms and ramp up research and development around game mechanics. If growth continues at its current rate, SCVNGR will have no need to raise additional funds, says Priebatsch.\nSCVNGR has raised $20 million to date. Priebatsch anticipates that the startup he initially dreamt up during his time at Princeton will reach 1 million members early this year. By comparison, competitor Foursquare raised $20 million in July 2010 and recently announced it surpassed 5 million members."^^<http://www.w3.org/2001/XMLSchema#string>
<http://mashable.com/2011/01/04/scvngr-series-c/>