NewBay Software has received a €3.2 million investment from the European office of leading technology venture-capital firm Benchmark Capital.
The funding will enable NewBay, developer of the world's first mobile phone blogging system, to expand its current operations and develop new products and services based on its leading FoneBlog product.
Mr Paddy Holahan, CEO of NewBay Software said, "The benchmark funding gives NewBay the necessary resources and momentum to accelerate our growth. It also provides a strong, global endorsement of our business plans for the mobile internet marketplace."
As part of Benchmark's investment in NewBay, Mr Barry Maloney, partner at Benchmark Capital, will join the board of the company.
NewBay's FoneBlog provides mobile phone users with a personal Internet website where they can post pictures, audio, video and text to share with others over PC and mobile phone browsers. FoneBlog is sold as a product and service to mobile operators worldwide.
Privately held NewBay Software was founded in 2002 and is based in Dublin, Ireland.
PA