Hip Hop Press has moved: www.hiphoppress.com

You may also dig:
ProHipHop - Hip Hop Marketing & Business News
Weekly Hip Hop Albums - New Releases

Try World Cypher's Hip Hop Search Engine:


Blue Frog Mobile Completes $16 Million Series A Funding, Secures Leadership Position in Mobile Media and Entertainment Market

Canaan Partners and MK Capital to Back Mobile Media and Entertainment Leader

SEATTLE, Sept. 14 /PRNewswire/ -- Blue Frog Mobile, Inc., a leading mobile media and entertainment provider announced it has completed a $16 million Series A financing led by Canaan Partners. The round also includes investor MK Capital. Rutberg & Company served as the exclusive financial advisor to Blue Frog Mobile on the financing.

The success of this round reaffirms Blue Frog Mobile's market strategy and its long-term potential in the mobile media and entertainment space. Blue Frog Mobile will use the new capital to expand its content offering, strengthen its marketing and advertising activities and continue to enhance its leading product suite.

"Blue Frog Mobile has established a strong leadership position in the mobile media and entertainment industry and is in a great position to capitalize on the growing consumer market for mobile entertainment and personalization," said Maha Ibrahim, partner at Canaan Partners. "We are pleased to become a part of the Blue Frog Mobile team and support its continued rapid growth."

"We invested in Blue Frog Mobile on the basis of its tremendous market position and potential," said Bret Maxwell, managing general partner at MK Capital. "We are excited to be able to play a key role in driving its continued success as a leader in mobile media and entertainment."

"The market for mobile media content and entertainment services is one of the fastest growing market segments today. Demand from consumers for exciting mobile entertainment and personalization is growing exponentially," said Ron Erickson, President and CEO of Blue Frog Mobile. "The support shown by our investors and their strong financial backing will enable us to accelerate our growth."

About Blue Frog Mobile

Blue Frog Mobile is a leading mobile entertainment company that creates, aggregates, and distributes mobile content. The company offers enhanced content including ringtones, images, games, voice services, SMS and MMS messaging, as well as white label mobile content and services for private branding. The company delivers its content and services through numerous brands including Ringtopia (www.ringtopia.com ), Edge Tones (www.edgetones.com), Mack Tones (www.macktones.com ), and Lemon Kiss (www.lemonkiss.com ). Blue Frog Mobile is headquartered in Seattle, Washington with offices in Manila, Philippines.

About Canaan Partners

Canaan Partners (http://www.canaan.com/ ) is a national venture capital investment firm formed in 1987. Canaan specializes in startup and emerging- growth companies in information technology and services, as well as life sciences and medical technology. Canaan Partners was an early backer in Acme Packet, AdvancePCS (ADVP), Capstone Turbine (CPST), CommerceOne (CMRC), Concord Communications (CCRD), Copper Mountain Networks (CMTN), Esperion (ESPR), Genaissance Pharmaceuticals (GNSC), International Network Services (INSS), IntraWare (ITRA), Interact Commerce (IACT), Network Engines (NENG), ONI Systems (ONIS), Orapharma (OPHM), Pozen (POZN) and Praecis Pharmaceuticals Inc. (PRCS), Qovia Inc., along with dozens of other market-leading companies.

About MK Capital

MK Capital (http://www.mkcapital.com/ ) is a leading venture capital firm based in Northbrook, Illinois with a focus on companies in outsourced services and applied technology markets. The firm provides capital to help entrepreneurs in their quest to build successful businesses. MK Capital's team also recognizes that entrepreneurs are the essence of success. MK Capital's team has over 40 years of venture capital experience and a long history of investing and managing venture funds. Each team member has previously been both an entrepreneur and a manager.

Source: Blue Frog Mobile, Inc.

CONTACT: media, Judy Camasi of Blue Frog Mobile, Inc., +1-206-652-4481,
or pr@bluefrogmobile.com

Web site: http://www.canaan.com/

Web site: http://www.mkcapital.com/

Web site: http://www.ringtopia.com/

Web site: http://www.edgetones.com/

Web site: http://www.macktones.com/

Web site: http://www.lemonkiss.com/

Web site: http://www.bluefrogmobile.com/

<< Home