Sponto, maker of a mobile party discovery application for college students, has scored $200,000 in initial equity financing from Amplifier Ventures. As part of the investment, Sponto has joined the investment firm’s Business Accelerator Program.
Sponto uses the GPS capabilities built into modern smartphones to help students discover, publicize and meet up at parties, concerts and other gatherings, in real-time.
The service is currently in beta and open only to students at the University of Maryland with an UMD.edu email address.
The funding will be used to complete the first commercial release of the Sponto event-sharing platform in the second quarter of 2011, to expand to new schools, and to grow its team.