Peermeta Grabs $6M

Serial entreprenuer Cheng Wu gets his claws into the mobile content market

Dan Jones, Mobile Editor

September 21, 2007

1 Min Read
Peermeta Grabs $6M

Startup Peermeta Inc. has grabbed $6 million in its first round of funding as it works on software that promises to make it easier to mobilize and personalize content on phones and other gadgets.

The Acton, Mass.-based early-stage startup got the money from Sigma Partners and Kepha Partners. The company hasn't been working on its "any time, anywhere" mobile software platform for very long -- the firm was formed in January 2007.

The firm's founder and chairman, Cheng Wu, however, is a notable serial entrepreneur. Wu was last seen at file virualization startup Acopia Networks Inc. That well funded startup was sold to F5 Networks Inc. (Nasdaq: FFIV) last month. (See Acopia Files Away $20M and F5 Completes Acopia Acquisition.)

Wu has now moved into a another sector where startups with something to offer are getting backed by venture capital or snapped up by larger rivals.

Most notable was Nokia Corp. (NYSE: NOK)'s acquisition of Twango for $97 million in July. (See Nokia Acquires Twango.) While On2 Technologies bought Hantro Products Oy for $59 million in May. (See On2 Acquires Hantro for $58M.)Companies like Cellfish, ExtendMedia Inc. , and others are also receiving large rounds for their mobile content work. (See Friday Funding Roundup.)

As well as supporting development work, the funding will also help Peermeta expand into a new 7,200 square-foot facility in Acton to support the company’s growth and hiring plans. — Dan Jones, Site Editor, Unstrung

About the Author(s)

Dan Jones

Mobile Editor

Dan is to hats what Will.I.Am is to ridiculous eyewear. Fedora, trilby, tam-o-shanter -- all have graced the Jones pate during his career as the go-to purveyor of mobile essentials.

But hey, Dan is so much more than 4G maps and state-of-the-art headgear. Before joining the Light Reading team in 2002 he was an award-winning cult hit on Broadway (with four 'Toni' awards, two 'Emma' gongs and a 'Brian' to his name) with his one-man show, "Dan Sings the Show Tunes."

His perfectly crafted blogs, falling under the "Jonestown" banner, have been compared to the works of Chekhov. But only by Dan.

He lives in Brooklyn with cats.

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