MobileLogic Secures $25 Million in First-round Funding
MobileLogic, a provider of end-to-end wireless data solutions, has secured $25 million in first-round financing, led by top-tier investors CMGI @Ventures, the venture capital affiliate of CMGI Inc., and Investcorp. MobileLogic is the third company to receive funding from the $1 billion CMGI @Ventures Technology Fund since it was formed in January. Additional institutional investors in this round include Allen & Company Incorporated, Apollo Management, Hikari Tsushin Inc. and Odyssey Investment Partners. A number of individuals also made significant investments in the new wireless data solutions provider, including John H. N. Fisher, Managing Director of Draper Fisher Jurvetson, Leo Hindery, CEO of Global Crossing and Henry Kravis of KKR.
MobileLogic, headquartered in New York City, is applying their accumulated knowledge of the wireless data industry to assist companies in developing and implementing their wireless remote access and mobile commerce strategies. The company offers secure wireless data solutions for laptops, smart phones and PDAs, provides wireless system integration services and develops mobile commerce strategies for more than 80 Fortune 1000 customers, including ADP, Alliant Food Services, Atmos Energy and DLJ Securities.
MobileLogic is focused on helping companies improve the out-of-office productivity of their mobile workers by providing them with wireless access to their corporate enterprise. In addition, the company helps convert traditional approaches to e-business into mobile commerce strategies.
For more information on MobileLogic, visit www.mobilelogic.com. For more information on CMGI or Investcorp, visit www.cmgi.com or www.investcorp.com.