Networks In Motion Receives $5M

Irvine-based Networks In Motion has formally announced the close of its Series B Venture funding. The company raised $5M from Redpoint Ventures and Mission Ventures. Networks In Motion said that the funding will be used to grow its core personnel. Networks In Motion is developing location-based services and software, based on GPS technology. The company currently provides high quality mapping and navigation software for cell phones, similar to in-car navigation systems; as well as software used to track mobile users by companies. More information »