SCVNGR raises $15M in new funding

SCVNGR, an app that flips the location-based craze on its head and turns it into a game, has raised $15 million in a new round of funding.
Balderton Capital, a European-based venture capital firm, led the round and the firm’s Barry Maloney will get a seat on the company’s board of directors. Google Ventures and Highland Capital Partners also participated in the latest round. The company closed an initial $4 million in funding at the end of 2009 and jumped out of the gates with some seed funding before that.
More than 650 institutions are building on the SCVNGR platform and the company has signed up some big brands to run promotional campaigns similar to what Foursquare is doing.