Tuesday, April 25, 2006

Motricity lands Advanced Equities investment - WRAL Local Tech Wire

"Rapidly growing Motricity is planning to hire even more people, beef up internal operations and looking for possible acquisitions after landing another $40 million in venture capital.

Motricity, a developer of mobile content and applications, has now raised more than $120 million in the history of the firms that now make up the Durham-based company. Pinpoint Communications and PowerbyHand merged to form Motricity.

The latest round comes on the heels of a $30-million round raised in July of last year. Motricity raised $27 million in 2004 following the merger of the two companies.

Advanced Equities led the round. Also participating were New Enterprise Associates, Technology Crossover Ventures and MotricityĆ¢€™s North Carolina investors, including the Wakefield Group."

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