foodspottingFood-recommendation startup Foodspotting just announced that it has raised $3 million in its first round of institutional funding.

The San Francisco-headquartered site allows foodies to recommend (and share photographs of) dishes they like, bookmark foods they want, and look up the best options at a particular restaurant. The idea is that food decisions are often based on specific dishes rather than restaurants.

The company launched its iPhone application in March 2010 and says it now has more than 550,000 users. It’s also attracting 300,000 visitors to its website each month. Comparing itself to the popular Internet radio app, Foodspotting says its goal is to become “the Pandora of food”: “By collecting structured data about what people are consuming, not just where, Foodspotting is in a unique position to surface smart recommendations from friends, experts and the crowd and to eventually expand beyond food into other products.”

The round was led by BlueRun Ventures, with participation from previous investors. Foodspotting last raised $750,000 from Aydin Senkut’s Felicis Ventures (Senkut also invested in VentureBeat), Dave McClure’s 500 Startups, and others.