There were whispers going around that Microsoft would be investing $15 million of their own money into Foursquare, which happens to be a location-based social networking service. According to the Wall Street Journal, this particular amount will also include a multi-year contract between the two corporate entities.

Word on the Foursquare blog did mention that they will allow Microsoft to be able to access the company’s places database in their hardware and software products. Apart from that, Foursquare is also proud to announce that they have more than 45 million registered users (which is still a far cry from the 1 billion plus users on Facebook), and these 45 million folks have done their fair bit in assisting Foursquare to collect data from more than 60 million restaurants, stores and other locations.

Foursquare mentioned, “So, in the near future, when you use Microsoft devices powered by the Windows and Windows Phone operating systems and products like Bing, places will be enhanced by Foursquare – to provide contextually-aware experiences and the best recommendations of any service in the world.”

This $15 million investment would be added to the $35 million which was raised by Foursquare in a different venture capital funding period over in December. Other previously released official Foursquare apps include those for the Windows 8 and Windows Phone platforms, and for all we know, Microsoft could have already integrated Foursquare data into Bing.