Foursquare Snags $20 Million in Funding Round

Jul 01, 2010

Locational social networking service Foursquare announced the completion of a round of Series B funding that netted the company $20 million, thanks to participation from Union Square Ventures, O'Reilly AlphaTech Ventures, and new partner Andreessen Horowitz.

According to the company, these new funds will be used primarily to expand the organization and supplement the company's development team with additional engineers. The company also hopes to expand its infrastructure to support its growing user base.