Location-based social app Banjo raises $100m in funding
Banjo, an app that organizes social and digital cues based on location to users to let users find out what’s happening around the world in real-time, has raised $100m in additional funding.
With the new funding, Banjo plans to expand its capabilities by creating technology that will allow it to detect different events happening around the world in real-time.
A company blog post announcing the investment reads: “We are working on connecting the world’s disparate real-time data streams and harnessing them into one unified source of unmatched insights. The results are profound: faster emergency response, safer driving conditions, smarter marketing decisions, more efficient use of energy and much more.”
The funding comes from SoftBank, whose vice chairman Nikesh Arora previously served as chief business officer at Google.
“Banjo is in an interesting space, bringing together the ideas of big data, social, local, mobile and trying to derive value from that combination for both consumers and businesses. I am excited by what I have seen so far, and think this has the potential to be very interesting, and big,” Arora stated in the blog post.
The Series C funding was led by SoftBank alongside BlueRun Ventures.
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