Miyowa, a dynamic global company providing compelling instant messaging and presence enriched Mobile Web 2.0 technologies, today announced completion of a second round of financing of US$8 million bringing the company’s total financing to date to US$12.7 million.
The funding round was participated in by Techfund, who funded Miyowa’s first round of financing in September 2006, and Credit Agricole Private Equity, a new investor. Combined with revenue derived from increased mobile operator contract wins, the additional financing will be used to accelerate commercialization of Miyowa’s existing products, bring to market a revolutionary enriched mobile instant messaging solution, and expand operations into the U.S. and Asia.
“Global mobile usage patterns are changing. Mobile users now want to have access to all of their social desktop PC applications anywhere and at anytime,” said Michel de Lempdes, investment director at Credit Agricole Private Equity. “The unique technology of Miyowa answers the mobile operators’ needs as they look for new mobile web usages, made possible by the launch and quick adoption of unlimited data subscriptions. We think Miyowa’s ability to offer innovative, new services in an unrestrictive fashion with almost no infrastructure investment, places it in prime position to take advantage of this market change, and provide the mobile applications that operators are seeking.”
Founded in April 2003 by Pascal Lorne and Francois Colon, Miyowa develops rich media mobile applications that provide mobile operators and handset makers with premium service offerings over their data plans and devices without the entering of restrictive relationships with social networks and IM providers, and mobile users with a superior mobile experience. Based in Paris, Miyowa has been profitable since its second year, and was the fastest growing company in the mobile instant messaging industry in 2007, winning more operator contracts than any other competitor.