Boost Communications Raises €3.3M in Funding

Boost Communications AS, a Trondheim, Norway-based provider of mobile Internet solutions, has raised €3.3m in funding.

Backers include Investinor AS and Norsk Innovasjonskapital III AS, led by TeleVenture Management. The two funds now have a combined stake of 38% in the company.

Boost Communications intends to use the funding to expand internationally.

Established in 2000 by CEO Øystein R. Skiri as a spin-off from the Norwegian University of Science and Technology, the company consists of three entities having a 50.1% stake in Boostcom Media and a 100% stake in Boost Advertising. Boostcom Media powers the customer loyalty clubs of some 100 shopping malls in the Nordics. Boost Advertising operates Madmaker™ – a do-it-yourself mobile ad maker which allows users to create mobile campaign sites quickly with no technical or design skills needed.

Clients include – among others -Al Jazeera, FC Barcelona, The Times, Polaris Media and Telenor.

The company, which had a turnover of €3.3m in 2011, has satellite offices in Oslo, Johannesburg and Dubai.



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