Monday, February 25, 2008

Radar Networks Raises $13M in Series B Funds

San Francisco-based Web-analytics developer Radar Networks announced Monday that it has concluded its second round of venture funding after securing some $13 million. Radar credited Velocity Interactive Group of Palo Alto, Calif., with leading the effort. Draper Fisher Jurvetson of Menlo Park, Calif., and previous investor Vulcan Capital of Seattle, Wash., also participated. Factoring in its Series A round that closed in April 2006, Radar has now raised a total of $18 million. Radar said it will use the funds to develop and roll out Twine, a new service that helps users organize, share and discover information about their interests with networks of like-minded people. In a related move, Ross Levinsohn, a partner with Velocity Interactive, will join Radar’s board of directors. Likewise, another Velocity partner, Baris Karadogan, will sit on the board as an observer. More information »