Peermeta Grabs $6M
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