LOS ANGELES-Wireless entertainment company Jamdat Mobile Inc. scored $11 million in its latest round of venture funding. Benchmark Capital, Apax Partners, Qualcomm Inc., Intel Corp. and Sun Microsystems Inc. participated in the round.
“The worldwide market for wireless entertainment hit an inflection point in 2003, as we anticipated it would,” said Mitch Lasky, the company’s chairman and chief executive officer. “As growth accelerates, companies with publishing and distribution scale are gaining market share at the expense of smaller, regional players. Building scale on a global basis requires capital, and Benchmark’s investment will greatly strengthen Jamdat’s market position.”
Jamdat said it would use the additional capital to improve its line-up of games and expand its distribution. The company achieved profitability earlier this year.
In other funding news, PanGo Networks Inc. reported $4.4 million in funding, bringing its total funding amount to $6 million since 1999. The company makes software for intelligent, location-based systems for enterprise wireless local area networks.
