Trilibis Mobile Secures $5.7 Million in Funding Led by Altos Ventures

Trilibis Mobile, the leading publisher of interactive network applications for mobile phones, announced today that it has raised $5.7 million in Series B financing. Altos Ventures led the round with participation from ATA Ventures and several early individual investors. Ho Nam, General Partner and Co-Founder of Altos Ventures, has joined the board of Trilibis Mobile. Mike Hodges, Managing Director of ATA Ventures, has joined as a board observer.
"Trilibis has done a great job of establishing relationships with Tier 1 carriers and proving out the SmartPath platform with key content partners," said Ho Nam of Altos Ventures. "With this capital infusion, we look forward to working with the Trilibis team to continue to take market share and grow the business."
Trilibis develops and publishes all of its applications and mobile web services using its patented mobile publishing platform, SmartPath(R). SmartPath enables the company to quickly create, broadly deploy, frequently update and easily manage its customizable, cross-platform mobile applications.
The newly raised capital will be used to fund development of the next generation of SmartPath to include support for native applications for BlackBerry, iPhone, Windows Mobile and Android devices. Additionally, Trilibis will devote some of the capital to boost its marketing and sales efforts.
"The tremendous increase in consumer adoption of smart phones has fueled the growth in mobile data services usage," said Alex Panelli, CEO of Trilibis. "Our objective is to capitalize on this emerging trend."
"Trilibis is a compelling opportunity because with limited capital the company has built an impressive portfolio of applications, achieved cross platform breadth and gained strong carrier support," said Mike Hodges of ATA Ventures. "We are enthusiastic to partner with Trilibis and help the company expand its reach into the smart phone market."
With this funding, Trilibis has raised a total of $8.3 million since inception.
About Trilibis Mobile
Trilibis Mobile is a technology-enabled publisher of interactive network applications for mobile phones. Trilibis' portfolio includes both original content and third-party titles under license from popular online communities and influential digital media companies. With its SmartPath, a scalable publishing platform, Trilibis is able to quickly create, broadly deploy, frequently update and easily manage its customizable, cross-platform mobile applications. Numerous carriers in North America and Europe distribute Trilibis-powered applications. Founded in 2002, Trilibis is based in San Mateo, California and has offices in Singapore, India and Hong Kong. For more information please visit www.trilibis.com.
About Altos Ventures
Altos Ventures is a first-stage venture capital firm focused on leading investments in emerging technology companies with the goal of building market leaders. Since 1996, the Altos Ventures team has worked closely with talented entrepreneurs to build companies that have generated more than $1 billion in revenue. Altos manages $200 million in dedicated first-stage capital on behalf of leading endowment, fund-of-funds, financial and family office investors based in the United States and Asia. Altos Ventures is based in Menlo Park, California. Additional information is available at www.altosventures.com.
About ATA Ventures
ATA Ventures ("a team approach") is a venture capital firm focused on seeking out early stage private companies which appear to offer above average prospects for capital growth. With over $350 Million of capital under management, ATA Ventures focuses on Information Technology (IT) and provides seed capital and early stages of financing. For more information, please visit www.ataventures.com.