AAA MBlox continues expansion with $43.5m

MBlox continues expansion with $43.5m

US-based mobile technology firm MBlox has raised $43.5m in financing from investors including Norwest Venture Partners, the venture capital firm backed by bank Wells Fargo.

Other participants in the financing were Horizon Technology Finance and VC firms Scale Venture Partners, Trident Capital, Saints Capital and Armentum Partners.

MBlox claims to be the largest global provider of application-to-person text messaging services. The company provides an engagement platform for mobile devices that enables marketers to deliver targeted coupons and promotions to mobile phones, which are triggered by a customer’s location and activity.

MBlox has now raised more than $130m in debt and equity since it was founded in 1999. Its equity investos include Norwest, Scale, Trident, EDB Investments and Avanti Capital.

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