Mogreet Lands $4.1M Funding
Mobile video marketing company Mogreet has raised $4.1 million in a new round of venture funding led by Black Diamond Ventures and including DFJ Frontier Ascend Ventures, Bryant Park Ventures and Draper Associates. The new financing brings Mogreet’s total raised to date to $14.1 million.
The company said it plans to use the fresh capital to continue enhancing moShare, its new mobile-sharing platform allowing users to text videos, pictures, music and stories to friends' mobile phones from any Web page. That effort builds on Mogreet’s core service of helping companies harness MMS (multimedia messaging service) for mobile marketing activities. Increasing demand for MMS marketing fueled 1,000% growth in Mogreet’s mobile video distribution last year, the company said in its announcement. Among other initiatives, Mogreet last year also launched a mobile marketing platform geared specifically to broadcasters.