Zvents secures $24 million in funding

Local search engine and paid listings ad network Zvents announced a $24 million funding infusion courtesy of new strategic investors include Nokia Growth Partners (the handset giant's growth capital arm), digital map data provider Navteq and AT&T. Existing Zvents investors Vantage Point Venture Partners and Red Rock Ventures also participated in the financing. According to Zvents, the funding is earmarked to expand the reach of its local listings advertising network, which enables local businesses and national retailers to promote their locations via search-targeted events including sales and weekly specials. Zvents will also further invest in its local search platform, which presently boasts a network of more than 250 digital and mobile media partners including Viacom's mtvU and Microsoft's MSN CityGuides.

For more on the Zvents financing:
- read this release