Calif. –
TweetUp, a start-up
founded by and Overture creator Bill Gross that has developed a Twitter
search service, has raised $3.5 million in funding, led by Index Ventures.

Other investors included Betaworks, Revolution, First Round Capital and
individual investors Jason Calcanis and Jeff Jarvis.

Calif.-based TweetUp uses both an algorithm to determine the most-relevant
tweets, and a bidding marketplace where Twitter users can receive more
prominent placement by sharing their ad revenue with TweetUp.

"Twitter has
such tremendous potential as a real-time information network far beyond what
has been realized to date," said Bill Gross, founder and CEO of TweetUp.

"For most people, though, 80% or more of the tweets that fly by them when
they’re searching for something are useless noise. For serious tweeters, the
task of attracting interested and relevant followers is equally daunting.
TweetUp will change all of that."


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