Rave Wireless Completes Series A Round of Financing from Bain Capital Ventures and Sigma Partners; $5 Million to Launch New Platform Empowering Youth to Find and Share Location-Based Information with Mobile Phones.

NEW YORK -- Rave Wireless Inc., today announces that it has raised $5 million in venture capital funding from Bain Capital Ventures and Sigma Partners. Rave is led by CEO and serial entrepreneur Rodger Desai along with telecommunication entrepreneurs Ghen Saito and Raju Rishi. Shikhar Ghosh, founder of Open Market, serves as Chairman.

Rave Wireless provides the easiest way to find, create, and share time and location-based information with mobile phones. Rave has partnered with leading global wireless carriers to ensure its platform is integrated with the carriers'…