Kadoink Raises $7M

SAN FRANCISCO -- Kadoink, (www.kadoink.com), a web telephony service for social media that enables enhanced group communication and mass distribution of SMS, live and recorded voice messaging and audio file streams over the voice channel, has closed $7 million in financing with Sutter Hill Ventures.

The funding comes after a successful unveiling of Kadoink’s powerful communications platform that bridges the mobile phone and the web, allowing consumers to connect, share and publish content with friends and online communities through their phones. Kadoink has initially deployed its technology with such brands and properties as Bebo, Adidas, Zomba Records, a soon to be announced sports broadcaster and artists such as Death Cab for Cutie, Jordin Sparks and Third Eye Blind.

As part of the agreement Sutter Hill Ventures Managing Director, Andy Sheehan, an industry veteran in the social networking and media space, will be joining the Kadoink board of directors.

“With our expertise in identifying emerging and entrepreneurial technology companies, we believe Kadoink and its patented family of technologies will be a highly successful addition to our growing portfolio,” said Andy Sheehan, managing director at Sutter Hill Ventures. “Kadoink possesses a powerful set of web-based telephony functionalities that we believe consumers and developers will soon adopt and embrace.”

Kadoink Inc.