Foursquare is announcing that it has received $15 million in funding as a result of a partnership with Microsoft. The deal will see Foursquare contributing to the Bing platform’s location and context layers on both Windows 8 and Windows Phone.
The funding will be rolled into Foursquare’s previous raise of $35 million in December, bringing the total to $50 million. In addition, a licensing deal has been struck for the location data, but the financial terms of that haven’t been disclosed.
This is not a simple licensing deal for Foursquare’s location data. Instead, Microsoft will be getting the data and much deeper access to its contextual layers than any third party via Foursquare’s API. Holger Luedorf, Foursquare’s head of business development, tells me that this is a multi-year agreement that includes both data and technical components that will integrate with Microsoft’s Bing platform on both Windows 8 and Windows Phone.
Foursquare will expose more functionality to Microsoft’s team than any other platform has access to. Luedorf says this includes Foursquare’s location targeting system that utilizes phone sensor data to pinpoint user locations and points of interest.
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