Booyah picks up $20 million in third funding round

MyTown developer Booyah has raised $20 million in a new round of funding designed to accelerate the company's expansion, reports TechCrunch.

Lead by investor group Accel, the new investment means Booyah has picked up $29.5 million since 2008.

Its market leading location-based app MyTown is now able to boast a userbase of 2.1 million.

Accel's Jim Breyer will join Booyah's board as part of the deal, with the company planning on launching new products as well as expanding MyTown's remit as it looks to challenge the rise of rival Foursquare.

The focus of MyTown – which has closer links to traditional gameplay than its competitors – is set to shift too, with CEO Keith Lee suggesting the app will soon attempt to link a user's activity to more practical measures and toolsets.

"It's about validating the activity you do in the real world - a check-in only takes you 70 percent there," he told TechCrunch, the site speculating checking in at a gym could be expanded to focus on an actual work-out routine, or a supermarket trip could be used to highlight your likes and dislikes.

In the meantime, MyTown continues its rude health. While Lee refrained from confirming whether Booyah is yet cashflow positive in terms of operations, he did confirm virtual item impressions within the title are rising, from 6.7 million a day earlier this month to the current rate of 8.3 million a day.

[source: TechCrunch]