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Mobile video and content provider QuickPlay Media has raised $12 million in a fourth round of funding. GMP Securities led the investment, with participation from previous backers General Catalyst Partners, JLA Ventures and Ventures West.
The Toronto-based company has raised over $39 million in funding since its inception in 2004; it will use the new money for product development (like the launch of its Blackberry-based mobile TV service, PrimeTime2Go). The funding signals a major vote of confidence in the growth potential of mobile video — with recent research showing that individual usage is on the upswing. Release.