Muzicall, a London, UK-based specialist ringback tone service provider, has received €2.1m in venture capital financing from new investors Ventech.
This additional investment, which comes four months the closing of its €9m second round of fundraising, will enable the company to accelerate its plans to further expand in Europe.
Commenting on the funding, Patrick Allainguillaume, CEO of Muzicall, was quoted as saying: “We are delighted to receive this additional investment.
“It will add significant momentum to our expansion throughout Europe; it also demonstrates the faith of the investor community in the potential of ringback tones”.
Muzicall is a specialist ringback tone service provider that operates and develops ringback tone services for major European telecommunications providers. Customers include Vodafone, T-Mobile and Orange group companies.
Founded in 2004, the company is backed by BlueRun Ventures LLC, Thule, ORKOS, Veddis Ventures, GP Bullhound and now Ventech.