Location based games continue to be a favorite of the venture funding.
The company behind the location-based game MyTown, Booyah Inc., recently closed a $20 million round of financing led by Accel Partners, with existing investors Kleiner Perkins Caufield & Byers and DAG Ventures also participating in the round.
MyTown is a Monopoly-like game where players “buy” real-life properties and “rent” them to others in exchange for points. With 2 million current users, and 100,000 new users joining weekly, MyTown has many options at potential business models – game sales, data mining around consumer usage, advertising, etc.
In addition, Booyah added another prominent board member, Jim Breyer, to its board of directors. Jim Breyer sits on the board of Wal-Mart Stores Inc., Dell, Brightcove, Facebook, Etsy, and Marvel Entertainment.
While some new ventures are focused on only bringing “pedigree” board members/management teams onboard, Booyah and several other location based games/services are making a real effort to maintain a mix of established professionals and subject matter experts. This should give them a real advantage in the future.