You read it here first: Rave Wireless, the mobile application company focused on the college/university market, has received a substantial $12 million round of funding. This second round was led by RRE Ventures who joined existing investors Bain Capital Ventures and Sigma Ventures. RRE General Partner and Founder Stuart Ellman will join Rave’s board of directors and Professor Bill Sahlman of the Harvard Business School will join as an advisor.
The NYC-based firm is working on apps for communities such as colleges and universities with GPS-enhanced mobile safety, social networking, academic and local commerce applications…it recently launched Rave Guardian, which provides students with a location-based personal alarm device.
Last year, the company raised $5 million first round.
Related: Rave Wireless Gets $5 Million Funding