Skyhook Wireless, a Boston company seeking to become the first company to link GPS locations to Wifi hotspots nationwide to make it easier for advertisers to target mobile users, has gotten another $8.5 million in capital.
The four-year-old company has now raised $16.8 million. The financing, first reported by VentureWire (sub required), was led by RRE Ventures and included existing investors Bain Capital, Intel Capital and CommonAngels.
According to VentureWire:
Skyhook is creating a map to link GPS locations to Wi-Fi hotspots to improve efficiency for some location-based applications which use GPS for tracking, a technology that does not work well in densely populated or indoor areas. Skyhook, which has been mapping Wi-Fi networks in all of America's most densely populated areas, has created a reference point that can help location-based applications orient themselves when GPS won't work.
This lets advertisers serve customers with more geographically relevant information.