Disqus
Provider of the open-source Mobile 2.0 messaging software, Funambol, today announced that it has secured $12.5 million in Series B funding. Nexit Ventures led the round, while Castile Ventures participated as a new investor and was joined by existing investors, Walden International and HIG Ventures.
The new financing brings Funambol’s total funding to $25 million. The company will use the proceeds for continued growth in the push email market, to advance product R&D and to accelerate global expansion, particularly in Europe and Asia. Nexit partner, Michel Wendell, joins Funambol’s board of directors and Castile general partner, Carl Stjernfeldt, joins the board as an observer.
Funambol will use the new funds to “add geographic support in global markets where we see significant demand for mass market open source push email.”
About The Author
Dusan Belic
Dusan has been using smartphones since their introduction and is now following the latest trends in the industry. The "convergence" is what he's most excited about, and writing about it is the next logical thing to do. He thinks that using a smartphone is what everyone who cares about their time should do. In addition to his interests in mobile phones, Dusan also loves to experiment with the latest web and mobile 2.0 services. The idea of accessing and managing your information from any device no matter where you are simply amazes him. Whether it's an online to-do list, note taking service or a video sharing social network, he's there to try it out. He admits though, he's still searching for the ultimate web-based organizational tool, which "sings" perfectly with the mobile PIM application. Dusan used to run SymbianWatch.com which later became part of IntoMobile. He lives in Serbia, South-East Europe, from where he edits the site on a daily basis.
