BDC Venture Capital Leads New Series A Funding for Mobidia
Mobidia Inc recently announced that it has raised $3.2 Million in its second round of Series A funding. This brings the company’s Series A total funding to approximately $6 million. Existing investor BDC Venture Capital with the participation of current investors British Columbia Discovery Fund and B.C. Advantage Funds led the round.
Mobidia is a service performance management company that lets wireless network operators monetize multimedia applications, such as the sharing of user-generated content, by dramatically increasing the quality of the end-user experience.
“BDC has increased its investment in Mobidia because of the company’s achievements and the important market potential for its technology,” said Greg Smith, director, Technology Seed Investments at BDC and a member of Mobidia’s board of directors. “Mobidia benefits from a strong management team and innovative solutions – the company is poised to become a leader in its sector,” he added.
“British Columbia Discovery Fund, Mobidia’s largest investor, stepped up its investment in Mobidia because the demand and excitement around mobile multimedia applications is dramatically increasing,” said Charles Cook, investment manager of BC Discovery Fund and a director of Mobidia. “Mobidia’s strength in improving the user experience with user-generated video certainly is timely in light of Apple’s™ recent iPhone announcement.”
“This latest round of funding will enable Mobidia to further develop its product set and focus its efforts on sales and marketing,” said Gary Tauss, president and CEO of Mobidia. “We are seeing strong demand for our .wave solution from carriers that want to differentiate their multimedia services and price them based on quality, customer experience, and usage behavior. These new funds will ensure that Mobidia has the necessary resources to accelerate this momentum.”
Mobidia’s .wave multimedia services product set is an end-to-end solution that enables wireless network operators to profitably offer new services and applications, such as the sharing of user-generated content and mobile video, while setting new standards for the mobile user’s quality of experience. A unique device-, network-, and application-aware architecture makes .wave the only source-based solution that enables carriers to manage usage so they can deliver their paid services first, ahead of unpaid services, allowing them to generate revenues from premium-level services.
Mobidia, Inc., which is headquartered in Vancouver, British Columbia, develops and sells a multimedia services solution that provides a better customer experience by managing service performance so the network operates better and provides the right level of service to every application. By improving multimedia service, Mobidia makes it faster and easier to share user-generated content such as photos, facilitates social networking, and enables the best use of multi-service phones.
For more information, please visit: www.mobidia.com