Buzzd, a location-based city guide and social network for mobile phones, announced that it has completed Series A funding, led by Greycroft Partners and Monitor Ventures. The money will be used for product development and distribution. Monitor’s Fern Mandelbaum will join Buzzd’s Board of Directors, along with company Co-Founders Nihal Mehta and Deepen Shah.

“Monitor and Greycroft have successfully guided digital media start-ups from seed to success. We are excited to have partners who will roll up their sleeves and really work with entrepreneurs,” said Buzzd CEO Nihal Mehta.

”Buzzd provides a necessary utility for users, helping them locate venues, interact with friends, and read reviews on the mobile device,” said Alan Patricof, Managing Director of Greycroft Partners.

Buzzd lets you search for local events and other hotspots in your city. Buzzd will tell you which bands are playing at local bars, the location of a four-star eatery and other such information. The interface lets the user share information with others on Buzzd, so people can setup their own social networks.

Hoenitos Premium Tequila is joining the Buzzd community as an advertiser. Through this partnership, Buzzd members can buy their friends Hornitos drinks and redeem the codes delivered via SMS at hundreds of bars in association with BuyYourFriendADrink.com. What could be better than getting your friends drunk with your mobile phone?

For more information on Buzzd visit http://www.buzzd.com. Users can register for the service immediately by texting ‘join’ to 96321, or visiting http://buzzd.com/m from their web or mobile browser.