mocoNews.net - iPhone Developer Smule Raises $3.9 Million First Round
Thursday, February 12, 2009; 4:59 PM
Sonic Media's SonicMule (aka Smule), which develops applications for the iPhone, has raised $3.9 million in its first round of funding. The round was led by Granite Ventures, and joined by Bessemer Venture Partners which participated in seed funding for Smule, along with CEO Jeffrey Smith and Maples Investments. In July last year Smule raised $1.6 million in seed funding, according to Vator. The release says the new funds will be used to enhance Smule's position "as a leading developer of innovative applications and services for mobile users".
Jeffrey Smith commented in TechCrunch that the funding would be used to expand research and development, expand the ability to offer services (eg, getting more servers) and increase outbound marketing capabilities.