$44 Million Financing For Mforma

Seattle-based wireless entertainment provider Mforma has raised a whopping $44 million in its first institutional round of financing, co-led by General Catalyst Partners, eFund Llc and Bessemer Venture Partners.

The new capital is earmarked to expedite the privately held company’s expansion strategy…expect the company to make a series of acquisitions, both in U.S, and in Europe and Asia.

Seattle PI: CEO Daniel Kranzler, who takes a $1 salary and also runs venture capital firm eFund that donates its profits to charity, said he could have raised twice that amount as he turned down offers from six prestigious venture capital groups. An IPO could be the next step for Mforma, though Kranzler declines to discuss timing. If all goes as planned, he said, the company, which is cash flow positive and generating millions of dollars in revenues each month, could top $200 million in sales in the next two years.

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