Wednesday, March 26, 2008

Bubble Motion Closes $14 Million in Second Round Funding

"Bubble Motion Closes $14 Million in Second Round Funding

Receives Investment from Sequoia Capital, Comcast Interactive Capital, and NCD Investors

Mountain View CA, 26 March 2008: Bubble Motion, the pioneer and global leader of 'voice SMS', today announced $14 million in additional funding from existing investors Sequoia Capital US and Sequoia Capital India, as well as new investors Comcast Interactive Capital and NCD Investors.

This additional funding will allow the company to further develop and expand the award-winning BubbleTALK platform, and will enable the company to focus on securing additional operator partnerships around the world.

Over 135 million consumers currently use the BubbleTALK service, which provides a 'click, talk, and send' short voice messaging service that works on any mobile phone. Operators have been implementing the BubbleTALK service because it gives them a fun and easy-to-use new service that increases Average Revenue Per User (ARPU) without the need for any additional network infrastructure.

Gaurav Garg, Sequoia Capital US, said "Bubble Motion has continued to impress us with their developments over the past year and a half. With a solid track record of success, a seasoned and experienced leadership team in place, and some phenomenal usage statistics, it is not surprising that the company received so much interest from the VC community."

Tom Clayton, CEO of Bubble Motion, commented: "We are thrilled that Comcast Interactive Capital and NCD Investors have joined with Sequoia as new investors. This new capital will enable us to accelerate even more aggressively on our global expansion goals. Moreover, Comcast Interactive Capital will add a new perspective and hands-on help to the executive team as we continue our aggressive expansion. With the upcoming new product releases and phenomenal traffic growth, we look forward to some very exciting times ahead. I'm very pleased that both our new investors and our existing investors share that vision."

As part of the financing, Deepak Sindwani, Principal at Comcast Interactive Capital, has joined Bubble Motion's Board of Directors. "We are impressed by the viral subscriber and traffic growth of the BubbleTALK service globally and excited by its potential as a new communication and media-oriented service," said Sindwani. "Comcast has a strong interest in developing leading-edge, multi-platform communications technologies."

No comments: