iSkoot Raises $19 Million In Series C Round
Funding will support development and rollout of new integrated Web/ mobile services
SAN FRANCISCO - Nov 07, 2008 – iSkoot, a leading provider of mobile Web services, announced today that it has secured $19 million in a Series C funding round. The round was led by Vision Opportunity Master Fund and included participation from existing investors Charles River Ventures, Khosla Ventures, Jesselson Capital Corporation and ZG Ventures. iSkoot will use this round of funding to support introduction of a groundbreaking suite of mobile communication solutions and maintain its position at the leading edge of mobile experience development.
“This funding represents a tremendous validation of the new mobile services we’ve been developing,” said Mark Jacobstein, CEO of iSkoot. “iSkoot products let mobile consumers get dramatically greater value from the Web services they already count on, and in the current economy value is going to be a powerful differentiator. We look forward to introducing a complete, transformative mobile experience that genuinely enhances the tools real people use to stay connected.”
With its recent acquisition of Social.IM – the desktop IM client that brings real-time communication and notifications to social networks – iSkoot is well-positioned to introduce a new class of highly integrated Web/mobile communications.
“iSkoot has already demonstrated phenomenal success in the Web to mobile communications arena, and has not stopped innovating” said Izhar Armony, general partner at Charles River Ventures. “There is tremendous market potential for iSkoot’s mobile solutions and we are convinced that iSkoot will be a dominant player in development of a new generation of purpose-built, integrated mobile devices. iSkoot’s success in raising capital at a time of significant market volatility speaks volumes about the company’s value proposition.”
“iSkoot is growing into an overall mobile services leader by developing carrier-grade Web communications services that integrate and work well on consumers’ mobile phones,” said David Weiden, partner at Khosla Ventures. “We believe the solution iSkoot is building will have a profound impact and enhance the mobile experience for people around the globe.”
About Vision Opportunity Master Fund
Vision Opportunity Master Fund, Ltd. is managed by Vision Capital Advisors, LLC (“VCA”), an SEC registered investment advisor based in New York City. VCA has more than $800 million in assets under management and has a long-term fundamental investment philosophy focusing on exchange listed small- to mid-size growth companies, as well as private companies.
San Francisco-based iSkoot brings leading internet services like Skype to mobile handsets around the world, delivering rich consumer experiences with minimal impact on operator networks.
iSkoot launched the first and only carrier-grade, carrier-deployed Skype-for-Mobile application in 2006, and now powers the Mobile World Congress award-winning 3 Skypephone currently sold in eight countries on three continents.
iSkoot takes advantage of the voice-optimized circuit-switched network for delivery of voice communications, in keeping with its mission to engineer elegant and operator-friendly solutions to the challenge of bringing resource-intensive internet services to mobile handsets.
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SutherlandGold Group for iSkoot