MoFuse Mobile Network secures funding

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Providence: MoFuse, which gives bloggers and other content publishers the ability to publish their content to the mobile web, announced that it secured its first round of seed capital. The Slater Technology Fund, a Rhode Island-based early-stage fund that is backed by the State of Rhode Island, provided the capital. The companies disclosed no further terms. Founded in August 2007, MoFuse (Mobile Fusion) released its first technology product privately less than two months later and opened it to the public on November 1. The intuitive ease of its platform, which enables anyone to create a mobile website in just a few minutes, has propelled the growth of the MoFuse Network. MoFuse closed 2007 with 2,200 mobile sites in its network, and that number has surged to nearly 12,000 sites today. "The more we consume the web through our mobile devices, the more impetus there will be toward MoFuse's growth," said Thorne Sparkman, MD, of the Slater Technology Fund. "And while it assembles a burgeoning network of sites, MoFuse is building a talent and experience base. Presentation is just the first in a series of hurdles that the blogosphere will need to surmount. We see this as an opportunity to enable a large, global publishing population to integrate with the mobile channel." MoFuse's growth has accelerated on numerous levels. Since January 2008, the company has increased its site portfolio by 240 percent and the number of page views by more than 935 percent.

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