Siemens Mobile Acceleration Invests in PhoneBites

Siemens Mobile Acceleration (SMAC) has announced the expansion of its U.S. portfolio by investing in PhoneBites. The funding in the first round of institutional financing amounts to $3 million in total and is provided by Siemens Mobile Acceleration, Cardinal Venture Capital, and Garage Technology Ventures. PhoneBites is a San Francisco-based mobile entertainment and technology company whose core product, the RAZZ, lets subscribers interject sound bites into live telephone conversations, outgoing messages, voicemails and photo messages.

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