Light Reading

Mobile VC Tops $1B in March Madness

Dan Jones
4/14/2014
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The massive $280 million round for video-calling startup Tango led to a blow-out March for mobile venture capital funding, according to the latest report from Rutberg & Co.

Rutberg & Co. reports that private companies raised $1.1 billion in 118 venture capital deals in March. Mobile VC deals pulled in $592.5 million.

This does appear to be shaping up as a significant year for mobile venture capital so far, though, both January and March have clocked over $1 billion in funding. As you'll see in the table below, there were several other significant rounds in March too, which could have topped the chart in many other months:

Table 1: March VC Funding: The Top 5

Startup Latest funding Location Developing Backers
Tango $280M Mountain View, Calif. Mobile video calling app Alibaba; Access Industries, Draper Fisher Jurvetson, Qualcomm Ventures, Bill Tai, Toms Capital, TransLink Capital, Shimon Weintraub, Jerry Yang, Alex Zubilaga, Individual investors
FunPlus $74M Beijing, China Mobile social games management applications GSR Ventures, Orchid Asia Group, Steamboat Ventures
ServiceMax $71M Pleasanton, Calif. Mobile field service management Meritech Capital Partners; Adams Street Partners, Cross Creek Advisors, Crosslink Capital, Emergence Capital Partners, Kleiner Perkins Caufield & Byers, Mayfield Fund, QuestMark Partners, Salesforce, Sozo Ventures, Trinity Ventures
MuleSoft $50M San Francisco Mobile Enterprise systems Lightspeed Venture Partners, Meritech Capital Partners, New Enterprise Associates
Whisper $30M Santa Clara, Calif. Anonymous mobile social network Shasta Ventures; Lightspeed Venture Partners, Sequoia Capital, Tencent, Thrive Capital
Rutberg & Co.

For more on mobile startup funding, see:

— Dan Jones, Mobile Editor, Light Reading

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R Clark
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R Clark,
User Rank: Blogger
4/15/2014 | 12:19:43 AM
Re: Tango - 9th largest mobile VC funding in last 15 years
$280m is a lotta loot for Tango - the WhatsApp effect I guess.

Interesting bunch of investors.

Has anyone here used it? I just downloaded it. Seems friendly enough,  if I can find the time for another social networking app.

 

 
DanJonesLRMobile
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DanJonesLRMobile,
User Rank: Light Sabre
4/14/2014 | 2:58:23 PM
Re: Tango - 9th largest mobile VC funding in last 15 years
And what kind of companies can even afford to buy...
SarahReedy
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SarahReedy,
User Rank: Blogger
4/14/2014 | 2:13:59 PM
Re: Tango - 9th largest mobile VC funding in last 15 years
Wow. So I guess the lesson is that funding is not necessarily an indicator of success. But, it should give us some pretty clear ideas about what companies are acquisition targets or IPO hopefuls.
DanJonesLRMobile
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DanJonesLRMobile,
User Rank: Light Sabre
4/14/2014 | 11:50:38 AM
Tango - 9th largest mobile VC funding in last 15 years
Rutberg says 9th largest mobile VC funding in last 15 years. Uber's round was ranked 12th. Clearwire (RIP) is still number 1 with $900M in 2006.
SarahReedy
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SarahReedy,
User Rank: Blogger
4/14/2014 | 10:30:15 AM
Games + Social + Enterprise
Mobile games, social and enterprise take the cake again.

As a side note, Whisper is a pretty creepy and sad little social network...
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