One California-based company recently received a $12 million cash injection, creating excitement in regards to its business valuation
. All Things Digital reports that Badgeville, based in Menlo Park, raised the capital to help with its reward-based system that allows companies to give customers incentives for using their products or services. The leaders of this funding round included El Dorado Ventures, Norwest Venture Partners, Trinity Ventures and Webb Investment Network, the latter two of which were existing investors. And while those within the company are pleased with the latest funding round, they have kept the total business valuation secret. "Badgeville CEO Kris Duggan would not disclose the company’s valuation, but said that the funding comes after two seven-figure sales quarters in a row and growth of 40 percent quarter over quarter," the website reports. "He expects the company’s revenues to hit $5 million to $10 million this year." Duggan made other headlines recently when he attended VentureBeat's GamesBeat 2011 conference. The two-day event gave those in the industry the chance to network and learn about the latest information.