Smartphone software retailer, Handango has raised an additional US$9.5 million in its Series C round of financing, which will be used to support the company's new distribution deals, improve the scalability of its infrastructure, and expand globally. Additionally, Handango plans to enhance the consumer experience to make smartphone content easier to browse, find and purchase online and directly from a mobile device. Participating in the Series C round are Institutional Venture Partners (IVP), Advanced Technology Ventures (ATV), Centerpoint, Neo Carta, Pharos Capital Group and SSM Partners.
"Securing this round of funding further proves our leadership position in the distribution of smartphone content," said Bill Stone, CEO, Handango. "As the demand for smartphones expands from early adopters to mainstream consumers, we are confident that Handango's new distribution platforms and expanded content offerings will only further our dominance in this industry."
"With the demand for smartphones growing at a faster pace than ever, Handango is in an incredible position to continue to lead the market both within the U.S. and abroad," states former president and chief executive officer of AT&T Wireless and current Handango director, Mohan Gyani. "With the strength of Handango's consumer-facing brand, its extensive customer base, its vast network of content partners, and its growing and evolving distribution channels, it is no surprise that this list of top-tier investors are back for another round."
All investors who participated in the Series B round of financing in September 2006 are participating in the current round.
Posted to the site on 3rd March 2008
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