Zvents gets $24M funding from Nokia, AT&T and NAVTEQ

Zvents gets $24M funding from Nokia, AT&T and NAVTEQ
Zvents, a local online search engine and advertising network, said this week that it had raised $24 million from several investors, including Nokia's venture capital unit, AT&T and digital map data company NAVTEQ. Other investors in this round include Vantage Point Venture Partners and Red Rock Ventures, which have previously invested in the company. Those two partners, as well as NetService Ventures, already had invested about $7.2 million in Zvents.

Zvents said the proceeds will be used to “expand the reach of its local listings advertising network, which enables both local businesses and national chains to promote their locations with search-targeted events such as sales and weekly specials”. Zvents will also further invest in expanding the deployment of its local search platform.

The technology focuses on events such as store sales, dining specials, sporting events and concerts, and lets local businesses advertise along those events.

The San Mateo, California-based company, currently employs around 55 people. Its advertising network includes more than 250 media, advertising and mobile device partners. They include Viacom's mtvU campus guides online network, AT&T’s YELLOWPAGES.COM and Microsoft Corp's MSN CityGuides, as well as U.S. newspaper publishers McClatchy Co and the New York Times Co.

Thursday, October 2nd 2008

Nav & Telematics | Sport and Outdoor | Location Based Services | Tech & Innovation | Market Data | Finance & Legal | People and Jobs | Voices of the industry | Press Releases