Radar Networks Pulls in $13 Million Venture Capital During Round B of Financing Series

Radar Networks is on a role. The company announced Monday completion of Round B financing series, during which it brought in $13 million from several venture capital firms. This brings total venture capital funding for the company to $18 million, including Round B and Round A (which closed in April, 2006).
 
What’s drawing venture capital firms to invest in Radar? The company offers an online service called Twine, which the company describes as a “Web 3.0” application, part of the “Semantic Web.”
 
Twine lets users organize, share and discover information that correlates to their interests, and connect with networks of like-minded people. In this sense, it is similar to a lot other “social network” services on the Web. But Radar is taking this idea to a new level what the company calls “semantic understanding,” a method of automatically organizing information using algorithms that learns from users’ interests and uses its conclusions to make connection and recommendations.
 
Given the trend toward social networking services being used not only on desktop computers but on mobile devices as well, it seems likely that Twine will prove useful to computer-based surfers and on-the-go social networkers alike.
 
Round B of Radar’s financing series was led by Velocity Interactive Group. Draper Fisher Jurvetson and Vulcan Capital also participated.
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