Location and communication app Life360 clinched a US $10 million Series B funding, which brings its total financing to US $20 million to date. It would be using the funds for strategic growth initiative that includes "product enhancements, distribution and localization of the app for international markets and product integration with partners in the home security and automotive sectors".

DCM leads the Series B financing with contribution from existing investors.

Life360, which was established in 2008, recently exceeded the 40 million users mark. It is a free app for Andrioid and iOS that utilizes location-based technology. It also has a premium product that was launched earlier this year.

"We have focused on building an app that solves real needs for families," said Chris Hulls, Life360's co-founder and CEO, in a statement.

"This utility-based focus has driven rapid user adoption of Life360, making us one of the largest location-sharing apps in the marketplace and by far the largest family-focused social network. We look forward to partnering with our new investors as we continue to grow," Hulls added