The mobile bubble hasn't burst for many wireless startups yet, with mobile financing up month-on-month
Mobile apps, device security and wireless LAN helped to drive another massive month for mobile funding in May, according to the latest report from Rutberg & Co.
Rutberg reports that the mobile sector got a total of $825.1 million in announced new financing last month. By comparison, April saw $591.9 million in new money for mobile, while $340 million was the haul for March.
Here are May's top five earners:
Linkem, an Italian Wi-Fi and wireless broadband provider got $90 million for expansion.
San Carlos, Calif.-based LifeStreet Media got $66 million to further develop its RevJet in-app mobile advertising platform.
Mountain View, Calif.-based AnchorFree got $52 million. It develops a mobile and Wi-Fi VPN for mobile devices.
Sunnyvale, Calif.-based MobileIron grabbed $40 million for its device management push.
Mumbai, India-based Quikr, which is developing a mobile classified application, got $32 million.
Why this matters
There's talk that the mobile social bubble might have burst with the dismal Facebook IPO, which launched May 18, but VCs are (or at least were) still spending money on mobile. The Rutberg report shows a diverse mix of video, infrastructure, application and Wi-Fi plays are getting money, with many pulling in rounds over $10 million in May.
Will the upward trend continue through June? Obviously, we don't know yet.
For more
Welcome to the Future
Facebook's Future in Mobile
Finding the Buzz in the Mobile Bubble
Mobile Bubble, Mo' Trouble
5 More Mobile Apps That Could Get Acquired — Dan Jones, Site Editor, Light Reading Mobile
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