Friday, March 6, 2009

Spark, GrandBanks send VC funds to mobile media firm SendMe

By Galen Moore

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Spark Capital has sent more venture capital funding to SendMe Inc. The San Francisco-based mobile media platform developer announced yesterday it has received $12 million in Series D capital, led by new investor Triangle Peak Partners.

Spark’s fellow return investors included GrandBanks Capital, True Ventures and Amicus Capital. Spark and True Ventures invested at the ground level in SendMe, when the company was founded in June 2006. Spark general partner Bijan Sabet joined Sendme’s board in December of the same year, when the Boston firm reinvested with Sendme in a $6 million Series B round.

SendMe’s three web properties, SendMeMobile.com, SoLow.com and mbuzzy.com, provide ringtones, web-based content and games for mobile phones via a subscription model. The company has raised $35 million in total, according to the mobile content news website mocoNews.net.

Boston-based Revolution Partners, a boutique bank specializing in VC fundings and mergers and acquisitions, advised SendMe in the round.