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05/09/2007

Intercasting Corp. Secures $12 Million in Series B Venture Funding

 

Intercasting Corporation, a leading mobile media company, recently announced that it has raised $12 million in Series B financing led by Venrock and also supported by existing backers Avalon Ventures and Masthead Venture Partners.

Intercasting Corp. will use the funding to go towards its strategy of expanding carrier-based distribution and partners for both its mobile social networking application, Rabble, and its Social Networking Service Gateway (SNS-G) ANTHEM Platform, which enables wireless carriers to mobilize web-based social networking and community sites. Existing partners of the company include AT&T, Verizon Wireless, Metro PCS, Virgin Mobile and 3UK, as well as top social networking sites like LiveJournal and Community Connect among many others.

“The level of confidence shown by investors in our series B round demonstrates the validity of Intercasting’s approach to social networking on the mobile platform,” said Shawn Conahan, founder and CEO of Intercasting Corporation. “The social networking and user-generated content phenomena are quickly migrating to the mobile space, and ANTHEM is providing the efficiency necessary for carriers to take full advantage of this networking trend.”

“We believe that Intercasting is playing a leadership role in the evolution of social networking and is providing an exciting breakthrough communication platform for social networking site providers and carriers through its ANTHEM platform,” said Brian Ascher, General Partner, Venrock Associates.

Intercasting Corp’s ANTHEM Gateway addresses the complexities of mobilizing social networking services for wireless carriers by providing a common standards-based interface for technical integration, content policy management and transaction processing. The ANTHEM Gateway provides a mobile on-ramp to existing Social Networking Services, brands, and entertainment companies interested in developing new mobile initiatives.

Through the ANTHEM platform, wireless carrier customers have the ability to interact with multiple online portals from their handsets, enabling them to view their own and friends' profiles, photos, friend lists, messages and contacts. Some of the most popular social networking providers are already integrated into the ANTHEM Gateway.

Founded in June 2004, Intercasting Corporation, based in San Diego, is one of the leading mobile media companies providing applications for personal mobile devices. Intercasting Corp. is partnering with global wireless carriers to bring to market applications that leverage the growth of mobile media devices, allowing people to communicate with each other and capture news and information as it occurs. Through Intercasting Corp.’s debut offering, Rabble, consumers can create and consume media through their personal, portable media devices, connecting with others who share similar interests, experiences or proximity.

For more information, please visit www.intercastingcorp.com