Light Reading

Mobile VC Pulls in $592.9M in February

Dan Jones
3/11/2014
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Mobile-focused private companies made $592.9 million in new venture capital funding in February, according to the latest from the industry watchers at Rutberg & Co.

The total is down from the $1.1 billion that mobile firms found behind the VC sofa in January. Here are the top earners:

Table 1: February VC Funding: The Top 5

Startup Latest funding Location Developing Backers
Magic Leap $50M Hollywood, Fla. Wearable virtual reality device Undisclosed investors
Elementum $44M Mountain View, Calif. Mobile supply chain management applications Flextronics, Lightspeed Venture Partners
Voalte $36M Sarasota, Fla. Mobile hospital apps Bedford Funding
Ionic Security $25.5M Atlanta, GA. Enterprise mobile security systems Google Ventures, Jafco Ventures; Philip Dunkleberger, ff Venture Capital, Dr. Paul Judge, Kleiner Perkins Caufield and Byers, Ken Levine, TechOperators, Webb Investment Network
Joyme.com $21.5M Beijing, China Mobile games portal Fosun Venture Capital Investment; BlueRun Ventures
Source: Rutberg & Co.

For more on mobile startup funding, see:

— Dan Jones, Mobile Editor, Light Reading

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Mitch Wagner
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Mitch Wagner,
User Rank: Lightning
3/12/2014 | 11:52:04 PM
Re: Consumer apps still rule
So it does seem there is more investment in B2C after all.

I keep expecting IT consumerization to be just a fad, and it keeps not happening.
Mitch Wagner
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Mitch Wagner,
User Rank: Lightning
3/12/2014 | 11:47:38 PM
Re: B2b
B2B spending seems to uptick on the way out of a recession. Businesses postpone capex during a recession and then when the climate improves demand is pent up.
danielcawrey
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danielcawrey,
User Rank: Light Sabre
3/11/2014 | 1:09:13 PM
Re: Consumer apps still rule
This Magic Leap funding is interesting. There's no disclosure of the investors. And I'm not sure how popular virtual reality headsets are going to be in the near term.

I know that the Oculus Rift can be vertigo-inducing, so I hope that the Magic Leap investors are ready for a long term ride as consumers get accustomed to an idea like this. 
DanJones
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DanJones,
User Rank: Blogger
3/11/2014 | 10:58:07 AM
Re: B2b
Less worrying than the same thing happening in a speeding NYC cab, to me!
SarahReedy
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SarahReedy,
User Rank: Blogger
3/11/2014 | 10:57:48 AM
Re: Magic Leap
It means they are magicians too.
SarahReedy
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SarahReedy,
User Rank: Blogger
3/11/2014 | 10:57:04 AM
Re: B2b
I'm not sure we want those dudes texiting and working an app while driving a rickshaw in the middle of traffic, way too slowly.
DanJones
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DanJones,
User Rank: Blogger
3/11/2014 | 10:56:42 AM
Re: Magic Leap
They're "semi-stealth" whatever that means!
DanJones
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DanJones,
User Rank: Blogger
3/11/2014 | 10:55:24 AM
Re: B2b
Certainly if you can come up with a great mHealth, BYOD-related enterprise management system or a hip taxi app it seems like you can pull in a huge round. Hmmmm, has anyone done a taxi app for specifically hailing those rickshaw-style cycle taxis yet? Call it GreenRyde!
SarahReedy
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SarahReedy,
User Rank: Blogger
3/11/2014 | 10:51:30 AM
Magic Leap
No clue what Magic Leap does, but it sounds awesome..."We are visionaries, rocket scientists, artificial intelligence gurus, robotics wizards, visualization jedis, software ninjas, computing hobbits, film freaks, mathematical artists, psychedelic physicists, people people, business athletes, and music lovers. We are creating a whole new user experience that we call Cinematic Reality™."
SarahReedy
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SarahReedy,
User Rank: Blogger
3/11/2014 | 10:47:45 AM
Re: Consumer apps still rule
Ah didn't read your comment before I responded to Mitch's, but I still maintain if you're a brand new startup wanting to make a dent, you'll have a much better shot in the enterprise than the saturated consumer market. 
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