Visto Lines Coffers

Mobile email firm Visto Corp. has grabbed another $70 million in its latest funding round.

Yep, you did read that right. This takes the total amount of funding raised by this startup -- we use the word loosely -- to $230 million in nine years.

A spokeswoman for the company says that partly that is the nature of the mobile email business that Visto is in. “It's capital intensive to participate in this market with the likes of Nokia and Microsoft,” she says. But she adds that the company initially started as a desktop synchronization play and decided to refocus on mobile email around 2001.

The latest $70 million round, which was oversubscribed, was led by new investor ePlanet Ventures and joined by prior investors.

The firm says it wants to use the money for expansion in Europe and Asia, including local marketing and support, meaning Visto is looking to expand the list of regional carriers using its product.

But the firm also plans to put some of the money into R&D. “We plan to grow our product beyond mobile email,” the spokeswoman says. Where else might Visto go? As an example, the spokeswoman cites the recent product upgrade that enables users to reply to text emails with a voice message.

— Dan Jones, Site Editor, Unstrung

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