NearbyNow rings up $11.75 million in Series C

Digital commerce solutions provider NearbyNow announced completion of an $11.75 million Series C financing round led by Norwest Venture Partners, with existing investor Draper, Fisher, Jurvetson also participating. The NearbyNow service integrates online product selection, local purchasing and mobile messaging, enabling U.S.-based consumers to search inventory at nearby shopping destinations and reserve items for pick-up via their PCs or mobile handsets. The new funding round arrives in conjunction with NearbyNow's announcement it will release a new app optimized for Apple's iPhone, which will enable users to graphically navigate shopping centers, search product inventory, list available sales and even find the closest restroom. The new iPhone web app will formally bow in July 2008.

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