Handango Raises Series C

Handango, a Hurst, Texas-based provider of smartphone content, has raised $9.5 million in Series C funding. Return backers include Institutional Venture Partners, Advanced Technology Ventures, Centerpoint, Neo Carta Ventures, Pharos Capital Group and SSM Partners. The company had previously raised over $78 million since 1999.

PRESS RELEASE

Handango, the world's leading provider of smartphone content, today announced that it has raised an additional $9.5 million in its Series C round of financing, which will be used to support the company's new and innovative distribution deals, improve the scalability of its infrastructure, and expand globally. Additionally, Handango plans to enhance the consumer experience to make smartphone content easier to browse, find and purchase online and directly from a mobile device. Participating in the Series C round are Institutional Venture Partners (IVP), Advanced Technology Ventures (ATV), Centerpoint, Neo Carta, Pharos Capital Group and SSM Partners.

“Securing this round of funding further proves our leadership position in the distribution of smartphone content,” said Bill Stone, CEO, Handango. “As the demand for smartphones expands from early adopters to mainstream consumers, we are confident that Handango's new distribution platforms and expanded content offerings will only further our dominance in this industry.”

“Handango has proven itself as the undisputed leader in the global smartphone content marketplace,” states Sandy Miller, General Partner from IVP. “This new round of funding will further enhance Handango's plans for growth and expansion at a time when the market is ripe for infiltration.”

 
“With the demand for smartphones growing at a faster pace than ever, Handango is in an incredible position to continue to lead the market both within the U.S. and abroad,” states former president and chief executive officer of AT&T Wireless and current Handango director, Mohan Gyani. “With the strength of Handango's consumer-facing brand, its extensive customer base, its vast network of content partners, and its growing and evolving distribution channels, it is no surprise that this list of top-tier investors are back for another round.”

All investors who participated in the Series B round of financing in September 2006 are participating in the current round.

Offering smartphone content from 16,000 developers, the largest collection of partners in the mobile content industry, Handango delivers the most diverse collection of smartphone applications directly to consumers both through its online storefront at http://www.handango.com/ and on mobile devices using the Handango's on-device client. Handango partners with many of the world's leaders in the telecommunications industry, including RIM, HP, Microsoft, Verizon Wireless, T-Mobile and AOL, all of whom rely on Handango as an essential part of their smartphone content businesses.