mig33 Raises $8.9M in Series C Funding
Published On November 8, 2010 |
mig33, a mobile social entertainment service, has received $8.9m in Series C funding.
The capital infusion is designed to further develop the company’s monetization channel.
The round was led by Indonesia telecom entrepreneur Pak Sugiono Wiyono and GREE, Inc., Japan’s social networking service, with participation from existing institutional investors Accel Partners, Redpoint Ventures and DCM.
This funding brings the total amount raised by the company to over $34m since its launch in 2005. mig33 received $10m in Series A round in May 2007 from Accel and Redpoint and $13.5m in Series B round in January 2008, led by DCM and joined by Accel and Redpoint.
Modeled on East Asian social networking services such as Japan’s GREE and China’s Tencent QQ, the company delivers communications and social entertainment to more than 40m members, who engage in chat, share photos, join groups, send gifts, play games, create avatars, call friends, email and much more.
The service is optimized for more than 2,000 handsets.