Mobile in Boston
Today, Mobile Monday Boston published a report evaluating the 100 Massachusetts mobile and wireless companies that saw activity in venture capital funding and acquisitions in 2009. The data reveals that mobile has now been billion-dollar a year sector in Massachusetts for the last two years, despite recent drops in venture funding fueled by the current economic climate.
Q2 2009 yielded a total of $81 million in investment for mobile companies based in and around Boston. A series of smaller investment rounds dominated Q2 as six out of seven companies receiving funding in Q2 raised less than $10 million from venture capitalists. While total investment declined from Q109 to Q209, VC funding increased from $39.4 million to $58.8 million.
Lilliputian Systems raised $28 million
Ember Corp. raised $8 million
Reva Systems raised $5 million
Convergence Inc was acquired for $22.8 million
Viximo raised $5 million
Azuki Systems raised $6 million
Celtra raised $1.2 million
Beaumaris Wireless raised $5.3 million
* This data & post was assembled by Amir Shaikh, Mobile Monday Boston’s summer intern.
$215 million was invested in Massachusetts mobile companies in Q1 2009. This figure makes Q109 the biggest for mobile investment in the last five quarters. These funds were raised by 11 mobile companies in the following sectors: Ads, Components, Development Tools, Enterprise, Infrastructure, Location, Medical, Video, and Voice.
Investment Stats – 2008
Investment in mobile and wireless in Boston spiked in 2008. Over half a billion dollars were invested last year. This represents a 45% increase from 2007.
The number of companies operating the in the mobile space has also grown, from just 10 raising capital in 2002 to 45 in 2008.
Interestingly, investment for Q2 2008 didn’t decline. In fact, it was the second-highest quarter for investment in 2008.
Boston has a very diverse set of mobile companies, operating in around 20 different areas. Mobile applications, marketing, advertising, and voice are some of the strongest areas.