Networks In Motion Raises $10M

Irvine-based Networks In Motion has raised $10M in a Series C funding round, the company said yesterday afternoon. The new round of funding was led by Sutter Hill Ventures, and also included prior investors Redpoint Ventures and Mission Ventures. Networks In Motion said that it would use the new funding to expand its research and development, as well as sales and marketing. Networks In Motion is developing location-based services based on GPS-enabled cellular phones. More information »