NextNav, a company that uses global positioning technology to better locate people inside buildings and dense urban environments, navigated its way to more money — $70 million, to be exact.
The company, which is based in McLean and Sunnyvale, Calif., collected its fourth round of venture capital last week from a slate of investors led by New Enterprise Associates and Oak Investment Partners.
Columbia Capital, Telcom Ventures and Goldman Sachs Investment Partners also contributed to the round.
Peter Barris, managing general partner at NEA, and Bandel Carano, managing partner at Oak Investment Partners, will join the company’s board.
The money will be used to commercialize the company’s Metropolitan Beacon System, according to a news release. That system can detect, for example, whether someone is on the fourth floor of a building with a greater degree of precision than current satellite-based GPS technology.
Bethesda-based Synapsify added $850,000 to the seed-stage money it raised last year, an infusion of capital that chief executive Stephen Candelmo said will be used to further develop software that marketers use to analyze written feedback from customers.
The company also debuted a Web-based text analytics software last week called Synapsify Core, which fine-tunes the words or sentiments it searches for within text based on what the reader finds most interesting or important.
“We don’t believe that a completely automated solution is the right fit or what people are looking for. We believe the most powerful computer still is the human brain,” Candelmo said.
The recent investment brings Synapsify’s total investment to date to $1.45 million. Standup Capital and the Maryland Venture Fund, which is run by Maryland Department of Business and Economic Development, participated in the latest round of funding.
District-based deal purveyor LivingSocial narrowed its losses in the second quarter of the year, regulatory filings show, after enduring financial struggles that included steep losses, business closures and layoffs.
The company posted a net loss of $11 million for April, May and June, compared to the net loss of $32 million during the same period last year. Those figures have been adjusted to exclude revenue and costs from businesses LivingSocial no longer owns.
While an $11 million shortfall doesn’t look good on most balance sheets, the fact that the company has shrunk its losses appears to be a positive sign. But whether the company will continue down that path and reach profitability anytime soon is unclear.
In a March interview, the company’s chief revenue officer, Doug Miller, said LivingSocial is focused on growth rather than turning a profit. In that vein, the company has added new products and ramped up its marketing efforts.
The company debuted e-mail deals earlier this month that are personalized for individual recipients, as well as new marketing tools for merchants.
LivingSocial’s financial results are disclosed in regulatory filings for Amazon.com, which owns roughly a third of its business. (Amazon founder Jeffrey P. Bezos owns The Washington Post and its affiliated publications.)