Muzicall Raises $13.4 Million To Expand Ringback Tones To New Regions


Credit: Muzicall

London-based Muzicall, which offers ringback tone services to carriers such as Orange, Vodafone (NYSE: VOD) and T-Mobile, said it has raised $13.4 million (9 million euros). Participating investors include: BlueRun Ventures, Thule Orkos Capital, Veddis Ventures and GP Bullhound, reports Mobile Entertainment.

The money will be used to expand in Europe, Asia and the U.S., according to CEO Patrick Allainguillaume. Muzicall said there’s still room for growth in Europe, where around two percent of European mobile users have a ringback tone, whereas in parts of Asia that number jumps to 40 to 50 percent.

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