SocialRadar Raises Funds in Series A Round
In an announcement, SocialRadar Inc announced the finalization of Series A funding wirth US$12.75 million. The funding round was led by Grotech Ventures, New Enterprise Associates and SWaN & Legend Ventures.
Other participants include Steve Case, co-Founder of America Online and Ted Leonsis, CEO and Owner of Monumental Sports and Entertainment. Dave Morin, CEO of Path, Kevin Colleran of General Catalyst Partners, Steven Gruber, Managing Partner at Oak Hill Capital Partners are also the other angel investors.
According to SocialRadar CEO and President, "SocialRadar is on the cutting edge of developing social location-based technology. Today over 1.1 billion people have smartphone devices that can broadcast their locations, and over 2.8 billion people have social profiles online. In the future, technology will inevitably combine the smartphone's location with the power of social networks enabling users to walk into a room and be aware of the people and connections around them. SocialRadar is developing that technology today for the iPhone, Android and Google Glass. I could not be happier that some of the leading venture capitalists and technology experts have come together to invest in this vision."