MoFuse Secures Funding
MoFuse, which gives bloggers and other content publishers the ability to publish their content to the mobile web seamlessly, has secured its first round of seed capital. The Slater Technology Fund, a Rhode Island-based early-stage fund that is backed by the State of Rhode Island, provided the capital. The companies disclosed no further terms.
Founded in August 2007, MoFuse (short for Mobile Fusion) released its first technology product privately less than two months later and opened it to the public on 1 November. The company says the intuitive ease of its platform, which enables anyone to create a mobile website in just a few minutes, has propelled the growth of the MoFuse Network. MoFuse closed 2007 with 2,200 mobile sites in its network, and that number has surged to nearly 12,000 sites today, making it, the company says, the fastest-growing mobile site publishing network in the world.
The more we consume the web through our mobile devices, the more impetus there will be toward MoFuses growth, says Slater Technology Fund Managing Director, Thorne Sparkman. And while it assembles a burgeoning network of sites, MoFuse is building a talent and experience base that will be tough to overtake. Presentation is just the first in a series of hurdles that the blogosphere will need to surmount. We see this as a tremendous opportunity to enable a large, global publishing population to integrate with the mobile channel.
MoFuses growth has accelerated on numerous levels. Since January 2008, the company has increased its site portfolio by 240% and the number of page views by more than 935%. The MoFuse Network, which includes many notable blogs such as: Mashable, ReadWriteWeb, PoliticalWire and HarvardBusiness, realizes more than 1 million page views per month and is growing by more than 25% every month.
Were thrilled at this validating investment by the Slater Technology Fund and we look forward to utilizing it toward continuing our growth, says MoFuse CEO, Annette Tonti. The wide adoption of our platform has necessitated more hires and of course, more investment. So were especially gratified that its from such an important, local partner.