Mobiquity Adds $5M to Its $12M Series B Financing
Recognizing Demand for Enterprise Mobility Innovation, Existing Investors Inject Additional Capital to Drive Industry Focus and Product Growth
BOSTON, Mass., August 26, 2014-- Mobiquity, Inc, a mobile engagement provider creating innovative solutions that drive business value, announced an additional $5M in funding led by NewSpring Growth, the dedicated technology and business services growth equity fund of NewSpring Capital, along with all existing institutional investors. The new funding is an extension of the $12M Series B round Mobiquity secured in June 2013 (led by NewSpring, Longworth Venture Partners, Sigma Partners and Thomas Weisel Partners), bringing Mobiquity's total financing to date to $24 million.
The additional funds will support the growing demand for Mobiquity's services and products among its Global 2000 clients across the healthcare, retail, financial services, travel and hospitality industries. In particular, the funds will help Mobiquity make strategic hires for its core business units and further develop its product innovations and technology frameworks, including its behavior change platform.
Recently, Mobiquity launched a new healthcare business unit devoted to researching, experimenting with and developing healthcare-specific solutions. Additional corporate momentum includes the announcement of an applied technology lab that explores emerging technologies, such as beacons, as well as a recently expanded digital marketing services team.
"In the first half of 2014 we saw strong momentum for Mobiquity with explosive growth in the pharma and healthcare sectors," said Bill Seibel, Mobiquity founder, chairman, and chief executive officer. "And the opportunity goes far beyond healthcare. Businesses across industries like financial services and retail are quickly realizing that meeting the mobile opportunity is not just about building a mobile app; it's about transforming your business. With our experienced team, expertise and best-in-breed technology, Mobiquity sits at the heart of this opportunity."
Mike DiPiano, managing general partner at NewSpring Capital, said, "With its strategic mindset, strong technical bench and creativity, Mobiquity is well-positioned as the partner to businesses looking to adapt to the compelling reality of the ubiquity of mobility."
Mobiquity is a mobile engagement provider creating innovative solutions that drive business value. Because mobile is in our DNA, clients benefit from how we expertly and effectively blend the three key disciplines that unleash the power and innovation of mobile computing: strategy, user-centered design and core technology. Since inception in 2011, we have worked with more than 170 companies, including CVS, Fidelity Investments, Ziggo, MetLife, the New York Post, Pfizer, Medavie Blue Cross, Putnam Investments, KPN, The Boston Globe, The Weather Channel and Weight Watchers International. To learn more, visit www.mobiquityinc.com.
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