IRVINE, Calif.—Location-services company Networks In Motion announced it scored $10 million in its latest round of venture funding. Sutter Hill led the round, while the company’s existing investors Redpoint Ventures and Mission Ventures also participated.
Networks In Motion said it would use the funds to expand research and development activities as well as sales and marketing efforts.
The company’s location platform supports voice-prompted turn-by-turn directions with auto-rerouting if a turn is missed, as well as local search of nearly 14 million points of interest and detail color maps that can be panned and zoomed. Verizon Wireless is using the company’s technology—along with technology from Autodesk and Navteq—to launch its VZ Navigator GPS-based service.
Networks In Motion was founded in 2000 and is headquartered in Irvine, Calif.
