Location-based social networking might be a clogged market, but it's still hot: Pelago, the parent company of mobile service Whrrl, is set to announce that the company has pulled in a $15 million Series B financing round. It'll be used for "strategic technology investments," as well as partnerships, which are crucial for mobile services that have to deal with cell carriers. Whrrl also hopes to expand across North America and into overseas markets.
The new cash comes from lead investor Deutsche Telekom's T-Mobile Venture Fund, with contributions from Reliance Technology Ventures and DAG Ventures. Previous … Read more