We could not be more delighted to announce that DFJ Growth has led Foursquare’s latest round of funding of $35M. We are long time fans of Foursquare and CEO Dennis Crowley’s vision of making your mobile device the most convenient and useful discovery tool ever.
We are picky and patient investors at DFJ Growth and have closely tracked Dennis and his team’s progress in 2013, and it was a very impressive year. The latest product releases deliver passive geo information - no need to check in - and the community has now posted over 40M tips at more than 70M venues worldwide. The company also validated its business model with an innovative portfolio of ad and promotional tools that are a win-win: useful and valuable to the member and great results for the advertiser.
When we think a company has the product the model and the market to go really big, we want to invest and be a part of the team. Managing Partner Barry Schuler will be joining the Foursquare Board and is looking forward assisting the team in building an epic company (and earning their coveted DFJ Golden Frisbee in the process.)
Foursquare - welcome to the DFJ family.