Mr.Farmville

The hype about location-based services has died down a great deal in the past few months, particularly as the realization set in that even services with large numbers of signups don’t get many regular visitors. But SCVNGR, a location-based startup that relies heavily on gaming concepts, appears to be ramping up anyway.

SCVNGR just raised $15 million in new venture funding, at a hefty $100 million valuation, according to TechCrunch, and will be using the money for growth overseas and continue work on the platform.

Some of the deals that SCVNGR scored in 2010 were likely an impetus to the funding. The company worked with institutions like the Smithsonian, the New England Patriots and the movie Inception; by the end of the year, it claimed over a thousand paying clients with over half a million users. It’s available on both the iPhone and Android, platforms that are themselves growing quickly.

Competitors like Foursquare and Gowalla, with less game elements, appear to be fading somewhat from the spotlight, although that’s not to say they have no chance of success. But SCVNGR’s funding, only slightly smaller than the $20 million Foursquare raised last June, will likely focus attention on what it’s doing.

Source: Inside Social Games