Mobiquity raises US$12 million in Series B Financing

By Marc Castro

Jun 05, 2013 12:13 PM EDT

Mobiquity had announced today that it had secured US$12 million in Series B financing. Mobiquity is a mobile solutions company that creates enterprise applications which assist in driving value for the company.

Among its investors are NewSpring Growth, the equity fund of NewSpring Capital as well as Longworth Venture Partners together with Sigma Partners. These investors have made capital infusions totalling US$17 million. The new funds would support the geographic expansion of Mobiquity alongside the continuous improvement and innovation of the firm's product portfolio.

According to Bill Seibel, founder, chairman and CEO of Mobiquity, "By focusing on strategy, user-centric design and integration - and hiring some of the most talented visionaries in mobile - Mobiquity has stormed into the enterprise mobility market delivering innovation and business value for our growing roster of clients. Q1 2013 has been our best quarter to date, during which we expanded our footprint and development capabilities into Atlanta, New York and Gainesville, and grew our product portfolio. This new round of funding will allow us to continue to expand in line with surging client demand." 

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