Mig33, the mobile Internet company that provides VoIP and instant messaging services, has raised $10M in funding in their first round, led by Accel Partners and RedPoint Ventures.
Mig33, whose parent company Project Goth is based in Australia, is headquartered in Burlingame, CA. The start-up offers mobile phone users VoIP, instant messaging, SMS messaging, as well as social networking services all rolled into one mobile community. Mig33 hopes to leverage the growing interest in low cost options for VoIP and other networking functions on a mobile platform, as the cell phone device has become a frontier for rapid development. Investors are hoping to get a return on their investment by creating ways to generate mobile advertising revenue.
The company already faces competition from companies such as TalkPlus and EQO, and soon to be included are Talkster, GoogleTalk and Skype, among others. Hopefully this round of funding will help Mig33 be more competitive in the mobile advertising and gateway market, especially considering that Microsoft has just acquired ScreenTonic last week.