Pelago raises $15M for international expansion

27 May 2008

LBS company Pelago has raised $15 million in a second round of funding to raise the activities in Europe and Asia. The two new investors well-positioned to help with that international move are the Deutsche Telekom's T-Mobile unit and the Reliance Technology Ventures of India, a subsidiary of the Indian conglomerate Reliance ADA Group.

Pelago developed the application called Whrrl as a mix of recommendation-based search and friend finder and expects to create revenue by using the consumer behavior database it has created in the back-end of this social network. CEO Jeff Holden and CTO Darren Vengro have been working at Amazon on consumer behavior topics.
Due to Pelago is working closely with Apple, the company is expected to launch an iPhone application next month.