Mig33 Raises Second Round

Mig33, a Burlingame, Calif.-based mobile social network, has raised $13.5 million in Series B funding. DCM led the round, and was joined by return backers Accel Partners, Redpoint Ventures and Technology Venture Partners. The company had raised a $10 million Series A round last May.

PRESS RELEASE

mig33, the global mobile social network, today announced closing a Series B funding of $13.5 led by DCM with participation from existing Series A firms Accel, Redpoint and TVP. mig33 will use this round of funding to continue expansion of the company and growth of the mig33 global communication service in the U.S. and around the globe.  

Since receiving Series A funding, mig33 relocated the entire company to the U.S., launching the service here and growing the global user base to more than 9 million users across more than 200 countries. People around the globe are using mig33, the service that brings the power of the Internet and community together for anyone with a mobile phone, for more than 2 million sessions per day to sending more than 45 million messages each day and share more than a million pictures a month. mig33 offers a mix of free and inexpensive services, including VoIP calls, instant messaging, e-mail, text messaging, picture sharing, social networking and community features.

“Users around the globe have adopted mig33 as their preferred way to keep in touch with friends and loved ones,” said Steve Goh, CEO and co-founder of mig33. “We're proud of the work we're doing to make Internet communications tools mobile and accessible for millions worldwide and grateful for the recognition from top venture firms who are voting with their dollars.”

mig33 works on most mobile phones, even basic models, regardless of carrier, and creates an instant global mobile community experience to share with existing and new friends. The technology was built for the mobile phone, making mig33 an integrated and easy way to access mobile instant communications around the globe. Users share content while chatting in forums or specific chat rooms they create to build their own personal communities.

“mig33 has an amazing user base of loyal and repeat users who are actively promoting and sharing the site with their friends and family,” said Dixon Doll, DCM chairman. “We believe mig33's viral growth and ability to deliver a product that has universal appeal sets them apart from other would-be competitors.”

For more information about mig33, please visit www.mig33.com

About mig33

mig33 is the award winning global mobile social network. Located in Burlingame, Calif., mig33 was named DEMOGod at the fall 2007 DEMO Conference, and selected as the winner of Silicon Valley/San Jose Business Journal's 2007 Emerging Technologies Awards in the category of Social Networking. With more than 9 million global users already, mig33 offers mobile phone users the power of the Internet and cost savings on VoIP calls, email, instant messaging, chat rooms, text messaging, profiles and photo sharing. For more information, visit http://www.mig33.com

About DCM

DCM is an early stage venture capital firm supporting entrepreneurs building world-class technology companies.  The firm's partners manage US$1.6 billion and have funded leading technology companies including 2Wire, 51job (Nasdaq: JOBS), @Motion (Openwave), About.com (The New York Times Co.), All About (Jasdaq: 2454), Arroyo (Cisco), Clearwire (Nasdaq: CLWR), Dang Dang, eDreams (TA), Foundry Networks (Nasdaq: FDRY), HireRight (Nasdaq: HIRE), Internap (Nasdaq: INAP), IPivot (Intel), JCI (Nasdaq Japan – Hercules: 9424), Neopath Networks (Cisco), Neutral Tandem (Nasdaq: TNDM), nQuire (Siebel), PGP Corporation, Recourse Technologies (Symantec), Sigmatel (Nasdaq: SGTL), SMIC (NYSE: SMI), Sling Media (EchoStar), VanceInfo (NYSE: VIT) and Vimicro (Nasdaq: VIMC).  DCM offers hands-on operational guidance and access to an extensive network of resources, including close relationships with many of the Pacific Rim's leading companies and investors.  For more information, please visit DCM's website at www.dcm.com.