NEW YORK—Mobile content retailer Thumbplay Inc. added to its bank account with a new funding round and line of credit.
The distributor of ringtones and other content hauled in $10 million in a third round of financing round led by Bain Capital Ventures and joined by existing investors SoftBank Capital and i-Hatch Ventures. Ajay Agarwal, Bain’s managing director, joined Thumbplay’s board of directors under terms of the deal.
The company also secured a $5 million credit line with SVB Silicon Valley Bank.
Thumbplay offers entertainment and personalization content directly to consumers through a $10 monthly subscription. The firm has billing arrangements with all four tier-one carriers, and appears to gaining traction despite the razor-thin margins content aggregators typically face.
“With this new round of funding, Thumbplay will accelerate its marketing efforts, while continuing to build the best consumer experience and mobile entertainment catalog available,” said Are Traasdahl, the company’s chief executive officer. “Thumbplay is positioned to widen the lead we have established as the top retailer of mobile content and one of the fastest growing sites on the Web.”
Meanwhile, mobile content distributor Wmode Inc. is hoping to increase its global presence after pocketing $6 million in debenture financing from finance firm Wellington Financial LP.
Wmode provides content management, delivery and billing solutions for carriers and mobile virtual network operators. The 6-year-old content aggregator claims carrier customers in North American, Latin American, Europe, the Middle East and Africa.
“Today’s investment expands our portfolio position in one of the country’s fastest-growing market segments,” said Mark McQueen, president of Wellington Financial. “Wmode’s mobile content distribution services are essential to carriers and wireless providers worldwide in an increasingly competitive wireless landscape. Their early success in this critical market niche made them a tremendously compelling partner.”
