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Report: Sense Networks Raises $6 Million

Sense Networks, which describes itself as a company that “indexes the real world using real-time and historic location data for predictive analytics,” has raised $6 million in funding. Venturebeat.com, citing an unnamed source, reports that semiconductor giant Intel (NSDQ: INTC) led the deal, after beating out Sequoia, who wanted Sense Networks to only take their money. No word on terms of the deal, and no comment from Intel or Sequoia over the investment.

Sense Networks technology is able to track groups of people in real-time to better target them with advertising. VB explains that Sense doesn’t require a direct relationship with the consumer, but could partner with a mobile social networking company such as Loopt, for example, to obtain user data to allow it to run more relevant advertising. It does this by taking all of the mobile social network’s incoming data and any other service its partnered with to parse the data to find insights and behavioral patters into clusters of people. It then uses its real-time technology to serve ads to people in those groups.

Sense also has a mobile app product called CitySense which it recently released for the iPhone and Blackberry. It asks users, “Where is everybody going right now?” It then shows the top hotspots of the city in real time and links to Yelp and Google (NSDQ: GOOG) to show what venues are operating at those locations.

Jun 29, 2009 9:57 AM ET

Sense Networks CitySense App Photo: Sense Networks

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Posted In: Advertising, Mobile, Money, M&A & Venture Capital, Venture Capital, Technologies / Formats, GPS Navigation/Maps, Companies

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