Loopt draws on $8.25 million of a $12M planned second round

July 23, 2007 | Matt Marshall

Loopt, a Palo Alto, Calif. company that lets friends track each other’s presence on a map interface on mobile phones, has drawn down $8.25 million of a $12 million second round of funding, according to a regulatory filing cited by PE Wire. Return backers include New Enterprise Associates and Sequoia Capital. It previously raised an $8 million first round of capital.

The company recently struck a deal with Sprint, which we covered.

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Tags: deal

About the Author, Matt Marshall

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.