The location based race is showing some real heat and getting some serious money as Foursquare rival Booyah! gets a $20m injection from Accel Partners.

Earlier this month it was reported that Booyah!’s iPhone app MyTown had reached two million users a month. It doubled its user base in just three months. That’s fantastic growth and it is still very hot putting on 500,000 users a month or 100,000 a week.

If you want a comparison Techcrunch said at the time that Foursquare had roughly 1.1 million users and Gowalla around 250,000.

Headquartered in Palo Alto, Booyah! is headed by Keith Lee who was previously the lead producer for Blizzard Entertainment’s Diablo III franchise.

The company already had financing from Kleiner Perkins Caufield & Byers’ iFund and now gets a huge boost from Accel Partners, which is leading some commentators to say that Booyah’s MyTown is a Foursquare killer.

It is more of a game than social utility based experience than Foursquare (with people saying it turns the real world into Monopoly), but has the same “check in” to places around you idea, which is why people are putting the two together in the same sentence.

Lee suggested to Business Insider that the “check-in” idea is going to be “a commodity in a matter of months” and that everyone will have such a feature.

We reported earlier that Facebook has its own geolocation check-in app the way due later this month with launch partner McDonald’s.  The burger chain has built an app that allows Facebook users to “Check-In” at one of its restaurants.