Kirkland, Wash.-based wireless entertainment provider Mforma Group Inc. has secured a second round of institutional financing. The funding follows a <A HREF="http://www.billboard.com/bb/biz/archivesea
Kirkland, Wash.-based wireless entertainment provider Mforma Group Inc. has secured a second round of institutional financing. The funding follows a $44 million round the company secured in June.
The new round could total as much as $40 million, depending on the company's needs in acquisitions under review. Palo Alto, Calif.-based venture firm Draper Fisher Jurvetson is the lead investor, with a $19 million participation; it is joined in the new round by existing investors General Catalyst Partners, based in Larchmont, N.Y., and Bessemer Venture Partners, in Menlo Park, Calif.
Mforma will use the capital to expand its global markets and channels of distribution in Asia and Europe.
Mforma provides distribution technology and entertainment content to more than 100 carriers across the globe, and claims a reach of over 500 million mobile users. Mforma's content partners include Activision, Atari Interactive, CBS SportsLine, Marvel Entertainment, Susan Miller Omni Media, Universal Studios Consumer Products and Viacom Consumer Products.