License-plate social network Bump.com raises more than $1M (exclusive)
Summary
DEMO Fall 2010 alumnus Bump.com, a social network that links people through their car license plates, has raised more than $1 million in its second round of funding, VentureBeat has learned. The company is also setting up shop at the Coachella music festival in April — where it will track license plates as they enter the music festival and deliver discounts to songs played by bands at Coachella. The actual site is launching a closed beta at the South by Southwest music festival in Texas later this month. Bump.com has raised $1.1 million from an initial funding round led by angels and money from the founders and employees. The company’s first round of funding, which closed before it presented at the DEMO Fall 2010 conference, was also oversubscribed.
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