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Mobile Funding: 2 More Deals

moneybag.jpgSignaling investors continued bullishness about mobile entertainment, two new companies have secured middle rounds of financing: mobile gamer Vollee and mobile video provider Quickplay Media.  The specifics:

Founded 18 months ago, Vollee is developing game distribution technology that allows them to adapt, host and stream PC and Console games for play on mobile phones and portables over 3G Networks.  Based in Israel, and running with a staff of near 50, the company previously closed a $4m Series A round in March from Benchmark and Blue Run Ventures (BRV).  BRV Partner Yossi Hasson is also a co-founder of the company. 

The Series B round brings in an additional $7.5m from the same investors.  There is some confusion, however, as to when it closed.  Both PE Hub and Israeli business news publication, Globes, have reported it presently but the press release available on the company’s website has a date for the financing back in May (That may be a typo. I haven’t found any past record of the deal indicating it happened that far back but absent further confirmation the timing remains hazy).   Whatever the timing, the company has recently earmarked some of the funds to bring in experienced executive staff.  They are reportedly on the verge of rolling out a beta launch with two Israeli mobile operators and nearing a launch phase with a U.S. carrier as well.

Founded in 2004 and based in Toronto, Quickplay already has an international footprint with offices in San Francisco, Toronto and London.  The company provides a combined content management and distribution platform for mobile TV and video content.  The platform is currently supporting ten North American carriers and providing content from 120 media companies (including ESPN Mobile and MTV).  The new Series C round adds $15m to the companies coffers.  Ventures West led the round and General Catalyst, JL Albright Venture Partners and Up Capital also participated.  The money will go toward further development and product expansion.

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