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SCVNGR Announces $15 Million Financing With Balderton CapitalBarry Maloney to Join SCVNGR's Board of Directors (January 04, 2011)
CAMBRIDGE, MA -- (Marketwire) -- 01/04/11 -- Happy New Year! SCVNGR's here to open 2011 with a bang! We're incredibly excited to announce a $15 million round led by Balderton Capital, Europe's leading venture capital firm. Existing investors, Google Ventures and Highland Capital Partners, are also participating. Barry Maloney, partner at Balderton, will join the SCVNGR Board of Directors.
"SCVNGR has big ambitions and has been executing against some pretty aggressive benchmarks," said Maloney. "Seth Priebatsch and crew are mashing up gaming, social and mobile in ways that are changing the way consumers live and businesses attract, reward and increase loyalty with their customers."
So what is SCVNGR going to do in 2011? Well, the same thing we've always been doing: building the game layer on top of the world! It's all about bringing game mechanics from virtual worlds into the real one. To make life more fun, more social and more rewarding.
So try it out: anyone can play SCVNGR by checking-in, completing challenges and unlocking rewards wherever they go.
Businesses and brands, large and small, can 'build' on the game layer by adding challenges and creating rewards at their locations. The goal? To increase engagement and loyalty among customers by making locations more fun.
"This partnership with Barry Maloney and Balderton Capital positions us perfectly to take the game layer mainstream in 2011. Their operational and global experience is just what we need to accelerate the SCVNGR growth curve even further," said Seth Priebatsch, Chief Ninja of SCVNGR.
"That and some great new stuff we're rolling out over the coming months. It's all quite awesome... and will likely be bright orange."
SCVNGR is a game. Playing is simple: Go places. Have fun and share with your friends. Check-in, snap pics, do the social check-in or try a challenge! Everywhere you go, you'll earn points and start unlocking real-world rewards at over 12,000 locations (think free ice cream!). SCVNGR makes it easy to share where you are and what you're up to with your friends on SCVNGR, Facebook and Twitter. Start playing SCVNGR by downloading our free iPhone & Android app. SCVNGR is funded by Google Ventures, Highland Capital Partners and Balderton Capital. Visit www.scvngr.com to learn more.
About Balderton Capital
Balderton Capital is one of the leading venture capital firms in Europe. Based in London, Balderton manages $1.9 billion in committed venture capital, and has invested in over 100 companies, principally in Europe but also in the US and Asia.
Balderton focuses on the technology sector and notable investments include bebo (acquired by AOL for $850m), Betfair (floated on the LSE in October 2010), LOVEFiLM (the home entertainment subscription service), MySQL (acquired by Sun Microsystems for $1 billion), ScanSafe (acquired by Cisco for $183m) and YOOX Group (the online retailer of leading fashion brands, listed in December 2009).
LaunchSquad for SCVNGR
Mike Farber or Emilie Cole
Scvngr [at] launchsquad [dot] com
San Francisco: 415-625-8555
Powerscourt Group for Balderton Captial
vpm [at] powerscourt-group [dot] com
London: 44 20 7250 1446
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