Social Discovery Startup Banjo Raises $16 Million

Banjo, a startup that focuses on surfacing live events and breaking news, announced on Thursday it raised a $16 million Series B round of venture funding. Balderton Capital led the round, along with participation from BlueRun Ventures, Vegas Tech Fund and other existing investors. Banjo first started out as a nearby social discovery app, connecting smartphone users to acquaintances based on their location. But in January, the company pivoted to focus on real-time events and content, primarily for mobile devices. To date, the company has raised $21 million.

This article originally appeared on Recode.net.

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