Mobiles Republic Closes Series A Funding Round
Mar 23, 2012 (Close-Up Media via COMTEX) --
Mobiles Republic, a publisher of applications for smartphones, tablets, TV and PCs, including Windows 8 devices, announced that it has closed a USD three million Round A investment from venture capitalist firms XAnge Private Equity and Creathor Ventures.
In a release dated March 20, the Company said it will use the investment to continue the global expansion of its news apps, including News Republic, APPY Geek and Glam Life, on the different platforms.
"With this investment, we will be able to accelerate our growth, continue to federate more publishers on top of the 300 that have joined us, and continue our expansion capitalizing on our multilingual semantic engine," said Gilles Raymond, CEO, Mobiles Republic. "We are very pleased to have the support of XAnge Private Equity and Creathor Venture, who believe in our mission to be the worldwide leader in personal media apps on the four screens."
"With 100M Pages Views per month threshold achieved in only 12 months, we are impressed by Mobiles Republic's rapid expansion in Europe and the U.S. based on major content partnerships, unique expertise in monetization and amazing real usage per unique visitor. On top of their semantic engine, the granular personalization options represent a major differentiating factor in the market," said Cyril Bertrand, Partner at XAnge Private Equity.
"The news app sector has been garnering a great deal of attention, and Mobiles Republic, with an extremely efficient four screens strategy, has been well positioned as market leader since 2009 through its relationships with manufacturers OS providers and publishers, as well as the ability to monetize. We are proud to accompany Mobiles Republic as lead investor right from the very beginning," said Gert Kohler, Founder and CEO of Creathor Venture.
Mobiles Republic develops apps for the smartphone market.
XAnge Private Equity, a subsidiary of La Banque Postale, is a portfolio management company licensed by the French financial markets authority AMF to operate in private equity.
Creathor Venture invests in technology-oriented companies and entrepreneurs from the area of IT, telecommunication, media, new materials, nanotechnology, clean tech and life science.
Investors of the current fund Creathor Venture II include the ERP-EIF Dachfonds and the European Union through which the Fund receives funding, originating Multiannual programme for enterprise and entrepreneurship, fund-of-funds, family offices, entrepreneurs as well as Creathor's team.
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