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September 25, 2010

MocoSpace Gets Funding from SoftBank

MocoSpace landed $3.5M investment from Softbank for browser-based mobile games. The Boston-based claims 14M users. http://bit.ly/b1SBuh

MocoSpace has made a big bet that browser-based games will take off on mobile phones as the mobile web comes of age. And now SoftBank Capital is making a bet that MocoSpace is right about that. Japan’s SoftBank is investing $3.5 million in MocoSpace in a strategic round.

Boston-based MocoSpace was founded in 2005 and has more than 14 million users for its browser-based games and entertainment on both feature phones and on smartphones, said Justin Siegel, chief executive of the company, in an interview. The company is already profitable, but Siegel said the investment will help it enjoy new support from SoftBank

Previous investors in MocoSpace include General Catalyst, Pilot Group, and angel investor Michael Dearing. Ron Fisher, managing partner at SoftBank Capital, will join MocoSpace’s board. MocoSpace has 35 employees. Founders Siegel and Jamie Hall have known each other since they were eight years old. Their previous company was JSmart, a mobile gaming company bought by SK Group. To date, the company has raised $10.5 million. More Via Venture Beat

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