Wednesday, November 26, 2008

Maine VC leads $14M round for KickApps

By Mass High Tech Staff

Social media application platform developer KickApps Corp. has landed a third round of funding worth $14 million, led by Portland, Maine-based North Atlantic Capital.

The Series C round in New York-based KickApps also had participation from existing investors SoftBank Capital of Newton, Spark Capital of Boston, Needham-based Prism Ventures and Jarl Mohn, former CEO of Liberty Digital Inc., the company said. Mark Morrissette, managing director from North Atlantic Capital, has been added to KickApps’ board of directors as part of the investment deal.

According to KickApps officials, the new money will be used to speed up KickApps’ expansion into new markets and to continue development of new products.

The KickApps Platform in 2008 saw a number of new customers, including National Geographic, Budget Travel, Guinness World Records, the New York Knicks, John McCain’s official social network (McCainSpace) and Voice of America, among others, company officials said.

In October, North Atlantic Capital and Boston-based Kodiak Ventures paired up to provide $7 million in Series B funding to Atlanta-based Astadia Inc., an IT consulting and services provider for software-as-a-service applications. Other portfolio companies for North Atlantic Capital include software and services firm Tangoe Inc. of Orange, Conn., and Waltham-based enterprise feedback management platform developer Invoke Solutions Inc.