Endomondo, the company developing a mobile sports tracker application by the same name, has announced its $2.3 million financing round from Denmark based SEED Capital. Endomondo was launched in September 2008.
SEED Capital is a Denmark based early stage investor that last year raised a 530 million DKK (about 71 million euro) fund from various Danish institutional investors. The company has invested earlier into Endomondo as well and this is a follow-on investment based on good traction and execution.
The company plans to extend operations in the US and open an office in the San Francisco Bay Area. It also aims for profitability by the end of 2012.
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