Friday, February 16, 2007

Visto adds another $35M in VC funding :: RCR Wireless News

"Wireless e-mail company Visto Corp. announced it raised another $35 million in venture-capital funding, this time scoring money from Altitude Capital Partners L.L.C. The news means that Visto has now raised close to $300 million in VC financing over the course of its nine-year history, a staggering amount for a wireless startup, or a startup in any industry.

However, it’s unclear how fast Visto is burning through its cash. The privately held company does not disclose its financials.

Visto said it would use its most recently raised funds to accelerate its continued worldwide growth, extend its product portfolio, and “protect its foundational intellectual property”—a phrase likely designed to warn competitors of possible patent-infringement lawsuits. Already Visto has used its money to sue Seven Networks Inc., Research In Motion Ltd. and Microsoft Corp. for patent infringement."

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