Booyah, makers of location-based mobile application MyTown, have closed $20 million in financing and plans to accelerate their “real and digital world offerings”. The financing is headed by Accel Partners, a tech industry heavyweight with their hands in Real Networks, ad mob and other companies related to social applications and gaming. Location-based gaming is taking off in a huge way and it seems that investors predict it could become a big business in the years to come.

MyTown is currently growing at 100,000 new users a week and has 2 million users overall for the game. The game revolves around players ‘checking in’ at real world locations using their GPS enabled devices, and getting points and achievements for checking in to certain places. There is also the concept of owning a place, and charging rent to others who move into your space. Each month, players are checking in 60 million times and interacting with 250 million virtual items. Users spend an average of 70 minutes per day using the service. These numbers truly indicate that the game has massive appeal, and anecdotally I’ve seen the game blow up amongst my circle of friends (more so for friends in California, though). These people’s Facebook feeds are covered with their check-ins to various locations, and to me it seems like the first step in something very powerful. Right now, the check-in news feeds are just a map and a note, but if eventually those news feed updates included offers, like “I just checked into the Gap, click here to get 20% off next time you visit this store too”, we could see some interesting dynamics.

“Booyah is at the epicenter of the fastest growing markets today – mobile, social, and interactive gaming,” stated Jim Breyer, Partner, Accel Partners. “Not only are they a next-generation entertainment company, but they are bridging the gap between consumers and businesses. The Booyah management team has both the passion and talent to innovate and create a wholly unique experience.”

Also important to note is Jim, quoted above, is an investor that is considered a leading predictor of new business. Breyer currently is the lead & presiding Director of Wal-Mart Stores, Inc, (WMT), a Director of Dell, Inc (DELL), and a long-time investor & board member of companies such as Brightcove, Facebook, Etsy, and Marvel Entertainment (MVL).

“We are thrilled to work with a world-class partner such as Accel Partners with their experience across social, mobile and entertainment,” said Keith Lee, CEO, Booyah. :The combination of Jim’s expertise in real world retail and cutting edge digital media mirrors our dedication to creating the most compelling real-world experiences. MyTown is a bold step to achieving this goal and we have very exciting plans in the near future to move far beyond the check-in.”