More Cash for Mobile Content Firm
The mobile content provider, Mforma Group says that it has raised US$30 million in a third round of institutional financing. The round was led by Institutional Venture Partners (IVP), and includes participation by existing investors Bessemer Venture Partners, Draper Fisher Jurvetson, and General Catalyst Partners. The new funds will be used by Mforma to develop new product lines and to expand global operations and marketing initiatives.