SCVNGR Scoops Up $15M for European Expansion and More Game Mechanics

Seth Priebatsch strikes again. The wunderkind CEO’s location-based gaming startup, SCVNGR, announced today it has raised $15 million in a new venture financing round led by London-based Balderton Capital. SCVNGR’s existing investors, Google Ventures and Highland Capital Partners, also participated in the round, which was raised at a valuation of just over $100 million, according to TechCrunch.

Cambridge, MA-based SCVNGR, which started in 2008, has been on a tear in the past few months, integrating with Facebook Places, announcing rewards partnerships with big brands like AT&T and Zipcar, and becoming well-known for its game mechanics and “challenges” that it says help businesses build customer loyalty and engagement. SCVNGR has raised nearly $20 million to date.

The new money will be used to fuel the company’s international growth (presumably Europe first, though perhaps not exclusively), and to do more research on implementing game mechanics in the physical world. In a blog post today, SCVNGR urges its community to “get excited, because we’re going to be bringing some more awesome your way.”

Author: Gregory T. Huang

Greg is a veteran journalist who has covered a wide range of science, technology, and business. As former editor in chief, he overaw daily news, features, and events across Xconomy's national network. Before joining Xconomy, he was a features editor at New Scientist magazine, where he edited and wrote articles on physics, technology, and neuroscience. Previously he was senior writer at Technology Review, where he reported on emerging technologies, R&D, and advances in computing, robotics, and applied physics. His writing has also appeared in Wired, Nature, and The Atlantic Monthly’s website. He was named a New York Times professional fellow in 2003. Greg is the co-author of Guanxi (Simon & Schuster, 2006), about Microsoft in China and the global competition for talent and technology. Before becoming a journalist, he did research at MIT’s Artificial Intelligence Lab. He has published 20 papers in scientific journals and conferences and spoken on innovation at Adobe, Amazon, eBay, Google, HP, Microsoft, Yahoo, and other organizations. He has a Master’s and Ph.D. in electrical engineering and computer science from MIT, and a B.S. in electrical engineering from the University of Illinois, Urbana-Champaign.