The round was led by Norwest Venture Partners, with additional but undisclosed investors participating. The company, founded in 2004, has now raised $11 million total to date.
The funding news was announced by the company this morning, but the New York Times profiled Kudzu Interactive extensively over the weekend, reporting that the Snapfinger.com owner is already profitable and growing revenues fast.
Jim Garrett, founder and CEO of Kudzu Interactive, says revenues grew 420% in 2009 and that it has more mobile applications and more restaurants integrated into more point of sale systems than “all of its competitors combined”. Snapfinger enables users to access more than 28,000 restaurants in over 1,600 cities from chains like California Pizza Kitchen, Outback Steakhouse and Boston Market, as well as local independent restaurants currently in its network.
The Series B funding round is aimed to support Kudzu Interactive’s sales and marketing initiatives and expand the business in a number of different areas, including mobile and iPad product development and real-time transaction based marketing features.
Josh Goldman and Jeff Crowe, general partners at Norwest Venture Partners, will join Kudzu Interactive’s board of directors.