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Celltick Technologies, which provides idle-screen services and interactive mobile broadcast, closes $11M Series C round of financing
March 7, 2005
LONDON -- Celltick Technologies, the market leader in idle-screen services and interactive mobile broadcast, today announced the closing of its Series C financing with investments of $11 million, bringing the total funds raised to $20 million.
New investor Amadeus Capital Partners led this round of equity financing. Existing investor JVP (Jerusalem Venture Partners) also made a substantial new investment.
Celltick's dynamic idle screen product is the only commercial, tested and deployed offering in the market and is already being enjoyed by millions of mobile phone users. Operators who are already using Celltick to promote their data services include Hutchison India, China Unicom, Orange Israel and MTN Networks in Sri Lanka. A string of new customers were added in 2004 and are expected to launch the service in the coming months.
Celltick is currently in the process of penetrating the European market and the capital raised in this round of funding will be used to expand its global sales and marketing activities and cement its first mover advantage in interactive mobile broadcasting.
Commenting on the investment, Amadeus Director Richard Anton, who joins Celltick's Board, says: "We believe that Celltick has created an end-to-end solution that will finally succeed in creating mass adoption of mobile value added data services. Celltick enjoys first mover advantage in interactive mobile broadcasting; its product is the only commercial, tested and deployed offering in the market, complete with content aggregation, delivery, network interface and client handling. Celltick's team is impressive and we are delighted to be supporting the company in its next stage of growth."
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