Update: The company has officially released the number: it is $5 million..some more info in the release. Also, the company has launched its website today as well.
Rave Wireless, a NYC-based mobile content startup focusing on community, blogging and other tools, has raised

The company is focusing on the university market…Besides the above community functions, the Rave technology interacts with the GPS functions of some cell phones and can provide the user direct access to university information: class schedules, alerts and schedules.
Some info on Rave’s efforts in this story..