Thursday, August 10, 2006

Motricity Raises $32 Million for Mobile Marketplace

Motricity, a start-up headquartered in Research Triangle Park, N.C., received $32 million for its solutions for the mobile content industry. Concurrently, the company announced the appointment of David Holland, vice president and treasurer of Cisco Systems and Steve Clark, former chief executive officer of SpectraSite Communications, to its board of directors.

The $32 million is part of a larger funding round that will close in stages in the coming weeks. It was led by Advanced Equities Inc. with participation from other existing investors.

Motricity's Mobile Marketplace Management enables consumers to receive the right content at the right time. Its mobile content delivery platform, "Fuel", is used by content partners such as BET, CBS, NBC, Turner, Cingular, Verizon Wireless, Alltel, Sprint,, Palm and others.

  • In July, Motricity acquired Los Angeles-based GoldPocket Wireless, a leader in mobile interactivity and marketing solutions for media and entertainment companies, broadening Motricity's customer footprint. The acquisition of GoldPocket Wireless extends Fuel's capabilities, adding messaging aggregation to more than 200 million mobile subscribers and marketing campaign management.

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