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 Motricity’s North Carolina investors, including the Wakefield Group."