Juice Wireless Raises $6M

Juice Wireless, the pioneer in mobile social networking, closed $6M in new venture capital funding in their third funding round, led by 21Ventures. The company’s investors now include 21Ventures, Qualcomm and Citizen’s Communications.

“We were able to raise money at a great valuation in a short time,” says Nick Desai, CEO of Juice Wireless. “Our fund-raising success is a testament to our market leadership. The investment will be used to further the development of the JuiceCaster product and expand its user base. Juice Wireless will accelerate its recruitment drive, with a focus on building the marketing and engineering teams as well as a focus on direct user acquisition.”

“The future of social networking and social media is mobile. JuiceCaster is the best way for people to share their social experiences and broadcast their lives, while on the go,” said David Anthony, managing partner at 21Ventures. “CEO Nick Desai and his talented team have made very impressive traction over the last 12 months. The product is the best I’ve seen on the market and the company has already signed several deals with leading domestic and international carriers. This signals a very strong foundation for growth and success in 2008.”

“21Ventures’ additional investment in Juice Wireless is a great endorsement for the progress we have made to date with JuiceCaster and for our 2008 business plan,” said Juice Wireless CEO Nick Desai. “The new funding, plus our move to new, larger offices this month will enable us to fully staff up our engineering, product design and customer support teams, to help make JuiceCaster the best social networking product available.”

JuiceCaster is a mobile social networking community which lets anyone who has a cell phone connect with friends and meet new people. JuiceCaster allows the user to publish content right from their phone to any person, group, Web site or desktop. People can view content on their phone to make new friends and stay in touch with current buddies. JuiceCaster makes rich-media content a part of mobile communications.




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