The Mobile sector was a bright spot during the quarter, with 26 companies securing $156 million in new funding, representing an 11% increase in funding amounts over the previous quarter. The funding activity was divided among mostly middle to later stage mobile companies.
Dexterra garnered $21.5 million in its sixth funding around to continue to "support the advancement of Dexterra’s mobile business platform and applications, strong partner and wireless carrier ecosystem and future opportunity..."
iSkoot received $19 million in its series C financing round, supported by a number of venture capital and private equity firms. iSkoot provides technology that enables non-smartphone users to be notified of e-mail and other services such as social networking updates, even though their phone is not otherwise capable of these types of notifications.
AdMob raised a third round of funding in the amount of $15.7 million. This round included top-tier venture capital funds Sequoia Capital and Accel Partners.
The Communications sector saw the second largest percentage increase in funding volume, with companies in this sector raising $36.5 million, an increase of 74% over the previous quarter. The number of companies funded doubled from 4 in the previous quarter to 8.
The largest funding event of the quarter was for Staccato Communications, which received $20 million from a large syndicate of venture capital and strategic investors. Staccato provides ultra-wideband silicon and software solutions for a wide variety of PC and mobile wireless devices.
Swingvote garnered $10 million in a publicly undisclosed financing. Swingvote has created an electronic delivery platform for communications between public companies and their shareholders.
LogicTree raised $2 million in venture debt from MMV Financial. The company provides IVR solutions for 511 and public transit organizations that makes access to these services faster and easier for the general public.
Venture Funding Activity – 4th Quarter 2008
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||- 32 %
||+ 22 %
||+ 11 %
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||+ 74 %
||+ 100 %
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