Mobileway Gets $23 Million in Funding

Wireless information delivery software maker Mobileway, based in London with its U.S. headquarters in San Mateo, has raised $23 million in a fourth round of venture funding.

In this round, a new US-based investment partner, Institutional Venture Partners (IVP), joins with existing investors 3i, CDP, Intel, Investcorp, Mayfield, Nexit Ventures and Visa.

The company will use the additional capital to expand into new territories such as China, increase its market penetration in the United States, and launch a range of new customer applications.

The latest round increases the total capital Mobileway has raised since its inception four years ago to more than $77 million.

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