NEW YORK—Rave Wireless Inc. said it closed $12 million in Series B funding, which it said it will use to accelerate its growth.
Rave provides Global Positioning System-enhanced mobile safety, social networking, academic and local commerce applications to colleges and universities.
The round was led by RRE Ventures. As part of the investment, RRE founder and general partner Stuart Ellman will join Rave’s board of directors.
In addition, existing investors Bain Capital Ventures and Sigma Ventures participated in the financing round.
The company also noted Bill Sahlman, a professor at Harvard’s Business School, will join the company as an adviser.
