DURHAM, N.C.—Motricity Inc. continued to fatten its wallet this week, snaring $32 million as part of “a larger funding round” that will gradually be disclosed over the next few weeks.
The latest round was led by Advanced Equities Inc. and joined by other existing investors. Motricity closed a $40 million round in April, and has raised more than $150 million since it was founded in 2001.
The company, which provides content and powers mobile storefronts, said it will use the cash to continue to expand its business. Motricity last week unveiled a partnership with Universal Music Group to launch a short code-based campaign to hawk mobile content from the label’s artists. And last month the company acquired GoldPocket Wireless Inc. for an undisclosed sum.
Ryan Wuerch, Motricity’s chief executive officer, hinted that more acquisitions may be in the works.
“We will use the funding to fuel our ongoing strategic development activity as we are aggressively pursuing opportunities for tactical growth into new markets,” Wuerch said.
