Motricity Announces $40 Million Funding; Tots Up $120 Million Thus Far

Update: Mobile content services firm Motricity has received an additional $40 million in funding in return for an undisclosed stake from Advanced Equities, and joined by other existing investors including New Enterprise Associates and Technology Crossover Ventures. [Via TMCNet]. This follows its merger talks with MQube, which didn’t happen as Verisign bought the latter last month.
Our earlier post: This is slightly speculative in nature since an official announcement is yet to come. Local Tech Wire reports, quoting another newspaper, that Motricity, a developer of content and applications for mobile devices, has raised $40 million in venture capital. The report in The News & Observer said that an announcement was likely today. With this deal, Motricity would have raised a total of $120 million in VC funding since 2001. The company had closed a $30 million funding in July 2005 and $27 million in the fall of 2004.
Rafat: The money might be used to buy some smaller players…
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