Mobile applications company weComm receives £3m
Existing investors inject further cash into innovative mobile business
Mobile phone applications company weComm has received £3m of investment from two existing investors.
The company has been backed by Elderstreet Investments and Frontiers Capital which originally funded the business in 2000 and, to date, have invested £10m in the business.
The latest funding injection will be used to fund the company’s product development and geographic expansion.
weComm provides mobile applications to clients such as BSkyB, Cantor Fitzgerald and Motorola.
It has also recently launched its Wave3 platform which enables users to stream platforms rather than downloading applications.
This will have a major impact on the economics of mobile usage and will very much change the user experience, the company says.
Oliver Sturrock, founder of weComm, said: “Wave3 changes the economics of mobile application delivery.
“By empowering more and more customers and partners to build compelling mobile data services in dramatically reduced timescales we are able to scale our business much more rapidly.
“This funding will be used to accelerate customer acquisition in all the major markets as well as to further enhance our core engineering capability.
“Wave3 delivers the outstanding user experience that will be essential to the widespread growth of interactive mobile applications.”
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