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Riding the wave of location-based application announcements, GeoSentric, maker of GyPSii, a real-time geo-social networking platform for many different handsets, announced today that it landed $11 million in funding (PDF). The news was bundled in the release of the company’s Tweetsii application, which combines tweets and location based “check-ins,” popularized by mobile applications like Foursquare.
The Tweetsii application, now only available for the iPhone in the Apple App Store, comes at an opportune time. Major social networking players have recently made big announcements around location-based services. Facebook, for example, noted it may be launching a location-based feature in April, while Twitter now lets users geo-tag their locations from Twitter.com. Not to mention the other services, like Google Latitude, Foursquare and Gowalla, which continue to gain momentum and users.
While offering location services may be a trend, it’s not clear whether GeoSentric will be able to set itself apart enough to gain market share. The site claims users can join communities based on locations, common interests or family and friends. It also allows for Facebook and Twitter integration, which makes it easier to update your status with location information. While none of these features are that new or different from the rest, the company’s global reach may give it a leg up.
The funding will help support marketing and additional development of GeoSentric applications, including GyPSii and Tweetsii. The new funding was led by led by U.K.-based Schroders and brings the company’s total funding to $40 million. GeoSentric raised $13.1 million in 2007 from both Schroders and the Horizon Group.
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