CellFire Adds $12 Million

CellFire Inc., a San Jose, Calif.-based mobile coupon company, has raised $12 million in third-round funding. Silver Creek Ventures led the round, and was joined by return backers Menlo Ventures and Storm Ventures. Get more info.

PRESS RELEASE

Cellfire Inc. secured its third round of funding, raising $12 million from a new investor, Silver Creek Ventures, and existing investors, including Menlo Ventures, and Storm Ventures. Proceeds will be used to expand the company's sales and marketing efforts, along with increasing product functionality, business development and partnership activities.

“We have seen Cellfire grow rapidly, securing blue-chip clients and top- tier relationships with an impressive combination of innovative technology, smart business strategy and strong carrier support,” said Mark Masur, general partner of Silver Creek Ventures. “Cellfire is clearly a leader in mobile marketing and we expect them to expand into new markets and opportunities in the years to come.”

With its first investment in Cellfire, Silver Creek Ventures continues to seek out market-leading companies in the information technology arena with strong management teams. Menlo Ventures and Storm Ventures have continued to support Cellfire since its days as a start-up in 2005.

“We are thrilled that Silver Creek led this round of financing given their strong track record of success in the wireless space,” said Brent Dusing, CEO of Cellfire. “We have come a long way over the past three years, and yet there are many more opportunities that we see in the future. The additional funds will help us leverage the significant market opportunity at our door step.”

Available on all wireless carriers in the U.S., Cellfire automatically delivers savings directly to consumers via their mobile phones, and provides frequently updated discounts specific to their geographic area. By clicking on a particular coupon or discount offer, consumers receive a unique redemption code that is presented at the time of the purchase. Unlike text- based offers, Cellfire's application-based service enables consumers to easily store, search and use many discounts across multiple merchants and locations.

Cellfire's growing list of participating merchants include Hardee's, Hollywood Video, Taco Bueno, Wienerschnitzel and numerous local merchants across the country.

About Cellfire, Inc.

Cellfire provides consumers with convenient discounts directly on their mobile phones. Cellfire is the first nationwide mobile coupon and discount offer service that allows consumers to easily access deals from brand-name merchants nationwide through their mobile phone. Founded in January 2005, Cellfire is headquartered in San Jose, California. For more information or to download Cellfire, visit http://www.cellfire.com.