New York-based Foursquare Labs Inc., a location technology company, has secured $150 million in equity funding.
Led by the Raine Group, the financing round, which brings Foursquare’s total funding raised to date to $390 million, also had participation from Snap, Inc.
With the latest funding, Foursquare acquired Placed, a location-driven insights and mobile advertising intelligence platform, for an undisclosed amount.
Foursquare said that it will use the new funds to back the acquisition of Placed as well as capitalize it for its increased research and development and expansion plans.