SnapMyLife, a photo sharing site based in Needham, Mass., has raised $5 million led by current investors North Bridge Venture Partners and Carmel Ventures. The company is owneed by Mobicious, Inc.
Press release:
SnapMyLife, the leading mobile photo-sharing site, today announced it has raised a new $5 million round of funding, led by current investors North Bridge Venture Partners and Carmel Ventures. This investment will be used to further expand SnapMyLife’s service with new features, stronger international presence and global partnerships. SnapMyLife is owned and operated by Mobicious, Inc.
“Three billion mobile phones worldwide enable people to instantly capture and share moments of their lives. SnapMyLife is the first mobile-oriented service to allow a wide range of consumers to easily share photos, while building a global community of friends,” said George Grey, founder and CEO of SnapMyLife. “SnapMyLife’s premium demographic, high quality content and location-based services set us apart and offer advertisers a unique opportunity to reach older and more affluent consumers. The additional commitment from current investors will enable us to expand our global footprint and add new services in the future.”
“We invest in companies with high growth potential and believe in the value that SnapMyLife is creating,” said Jamie Goldstein, general partner, North Bridge Venture Partners. “We are pleased to provide additional investment to enable SnapMyLife to continue on its aggressive growth path.”
SnapMyLife was launched in April, 2008 and has quickly grown to more than 1.5 million unique visitors per month and over 500,000 registered users. Mobile phone users from every country in the world use SnapMyLife to share pictures, make friends, see location-tagged pictures on interactive maps, add favorites, comment and chat.
“SnapMyLife has carved out a differentiated offering in the mobile social networking space,” said Rina Shainski, general partner, Carmel Ventures. “We expect SnapMyLife to do well in the current climate, with a strong management team and a compelling service that provides advertisers with high quality, targeted content and users.”
About SnapMyLife
SnapMyLife (http://www.snapmylife.com) is the leading mobile-web community for instantly sharing and discovering photos from locations around the world. The site is optimized for viewing directly on mobile phones, offers location tagging and interactive picture maps, and uses sophisticated filtering technology to ensure a great experience for a wide range of audiences and advertisers. SnapMyLife is venture-backed and headquartered in Needham, Massachusetts.
About North Bridge Venture Partners
North Bridge Venture Partners is an active, early-stage venture capital firm based in the Boston area. With approximately $1.3 billion under management, North Bridge focuses on investments in the communications, software and other technology markets. Working closely with entrepreneurs, North Bridge adds value by providing strategic guidance, specific industry knowledge, team-building skills and an in-depth understanding of both private and public financings. Past investments include ArrowPoint Communications, Cascade Communications, eRoom Technology, Phase Forward, Solidworks, Sonus Networks, Sycamore Networks and Wellfleet Communications. For more information about the company, please visit www.nbvp.com.
About Carmel Ventures
With over $600 million currently under management, several successful exits, and a growing portfolio of promising start-ups, Carmel is among Israel’s top-tier venture capital funds. Carmel’s investments are focused primarily on early stage companies in the fields of Software, Communications, Internet, Media, Semiconductors, and Consumer Electronics. Founded in 2000, Carmel provides significant capital and active, hands-on support through the growth cycle of its portfolio companies and is recognized as a true company building fund. Carmel, headquartered in Herzliya, Israel, enjoys a worldwide network of industry, strategic and investment resources. Carmel is an affiliate of the Viola Group, a leading innovative private equity investment group with over $1.8B under management. For more information, please visit www.carmelventures.com.
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