Viva Vision, a Los Angeles-based provider of content and applications for mobile entertainment, has raised $2 million in new VC funding from Medical Capital Corp.
PRESS RELEASE
Viva Vision, a premier content and applications provider for mobile entertainment, today announced that it raised an additional $2 million in funding from Medical Capital Corporation, a private equity company. Following a turn-around year for Viva Vision, the additional funding allows the company to scale its business, support its growing user base, and further grow distribution.
A revamped management team and strategy led Viva Vision to a break-out year in 2007, in which it accomplished the following:
- Revenue growth of 350%
- Subscriber growth of 130%
- EBITDA positive in Q3
- Distribution growth from 15 to 23 direct carrier agreements worldwide
“Viva Vision has shown impressive growth over the last year in a very challenging and competitive space,“ said Joey Lampariello, President of Medical Capital Corporation. “Viva Vision and its management team have built a solid foundation from which we expect further growth and profitability in 2008.“
Accelerating Viva Vision's strong performance in 2007 was the introduction of mobile slideshows, a new product category, in the
“Following a successful 2007, we appreciate the continued commitment and support of our investors,“ said Nick Montes, President of Viva Vision, “With the right balance of distribution, unique content, product innovation and intuitive user experience, Viva Vision will continue to drive incremental growth for our content and carrier partners.“
About Viva Vision
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