LimeLife Secures $10 Million Series B Financing
Menlo Park (March 28, 2006) - LimeLife, Inc., the only mobile software publisher focused exclusively on content for women, today announced it has secured $10 million in Series B funding. U.S. Venture Partners led the round with other existing investors Rustic Canyon Partners, i-Hatch Ventures and Monitor Ventures also participating.
As the only mobile content publisher dedicated to the female market, LimeLife is poised to become the lead content provider for a growing number of women who are downloading both casual gaming and mobile entertainment applications. Today, approximately 40 percent of game downloaders are women, according to M:Metrics data. With IDC estimating that sales of mobile games alone in the U.S. will rise from $600 million in 2005 to $1.5 billion in 2008, LimeLife is uniquely positioned to lead a significant segment of this multibillion dollar market.
An exceptional market opportunity, an outstanding team and a full pipeline of innovative and branded lifestyle and entertainment titles led LimeLife to close the successful round at $10 million. Funds raised will be used to increase market penetration and broaden marketing and publishing efforts.
"In the last year LimeLife has done a terrific job becoming the leader in their space. They have attracted top brand partners and are releasing great mobile titles that women want to download," said Paul Matteucci, General Partner, U.S. Venture Partners. "With their direction now proven, strong titles on the market and even bigger titles in the product pipeline, we are excited to be able to accelerate LimeLife's growth by leading their Series B."
"We are pleased to have closed our funding with all of our Series A investors participating in this second round. With a laser focus on what women want and need out of mobile content, LimeLife has spent the last year researching and publishing best-of-category titles," said Kristin McDonnell, CEO, LimeLife. "In the next year we will continue to grow. We will strengthen our relationships with worldwide brands and distribution partners and aggressively publish new lifestyle and entertainment titles."
About LimeLife, Inc.
LimeLife Inc., based in Menlo Park, California, is the only publisher of wireless content and applications exclusively focused on the women's market. LimeLife's products are based on unique insights about what women seek in mobile entertainment experiences derived from the company's proprietary research conducted with women ages 15+. LimeLife's products include wireless games, lifestyle applications and other branded content. LimeLife distributes its mobile applications through the company's partnerships with multiple wireless carriers, including Cingular, Sprint and Verizon Wireless. For more information about LimeLife's product portfolio, visit www.limelife.com.
Contact for LimeLife, Inc.: