Union Square Ventures and O'Reilly AlphaTech Ventures backing social networking game.
The company behind location-based social mobile app Foursquare has secured a seed financing round of $1.35 million.
Chipping in are Union Square Ventures and O'Reilly AlphaTech Ventures, along with some angel investors according to TechCrunch.
The Foursquare app has become something of a cult hit on iPhone, where it was released first. It involves accumulating game-like 'achievements' for visiting local venues regularly and interacting with friends.
The company has just broadened its horizons beyond iPhone with an Android version, while it's apparently working on BlackBerry and Windows Mobile versions to be released in the coming weeks.
The question - as ever - is how Foursquare makes money. The app itself is free, but so far hasn't made significant use of advertising (location-based or otherwise).
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Thus far, it's also been mainly a US thing, with 20 cities supported there, compared to just one non-US city (Amsterdam). That may change thanks to the new funding.
