MobileCrunch is reporting that Cellfire, which provides coupons via cell phone, is announcing a $10 million Series B financing on Tuesday. This follows a $4 million Series A from Storm Ventures. The company launched in June.
The round is being led by Menlo Ventures. The press release, which hasn’t hit the wires yet, is below.
SAN JOSE, Calif. – July 11, 2006 – Cellfire Inc. announced today that it has secured $10 million in Series B funding led by Menlo Ventures, one of Silicon Valley’s leading venture capital partnerships. The Company will tap this new financing to drive continued growth in the mobile marketing arena for its critically acclaimed mobile coupon service.
Launched initially in December 2005 to a controlled user base in California, Cellfire released its national service in June 2006. In early 2005, the start-up announced that it raised Series A funding from Menlo Park, California-based Storm Ventures. This latest round of funding will enable Cellfire to accelerate sales and marketing efforts, including product enhancement, expansion in business development and partnership activities.
“We are very pleased that Menlo Ventures led this financing, as they have had a tremendous amount of success investing in market-leading technology companies,” said Brent Dusing, CEO of Cellfire. “Our investors will help Cellfire realize its vision of delivering valuable discounts at every store and restaurant to every consumer in the country.”
Cellfire is a free downloadable application that provides valuable coupons from a host of local and national retailers within the user’s geographic region. It is the only mobile coupon service available today that provides money-saving deals for some of the most popular national venues. Current offers include rent-one-get-one-free from Hollywood Video, a free appetizer at T.G.I. Friday’s, as well as numerous discounts from retailers such as 1-800-flowers, Carlson Travel and other local retailers.
“In addition to their standout new mobile service, it was the talent of Cellfire’s management team that attracted us to the company,” said Doug Carlisle, Managing Director at Menlo Ventures. “We firmly believe that innovative entrepreneurs are critical to the ultimate success of a start-up. Cellfire is unique because it meets these criteria in addition to having a disruptive mobile solution.”
Silicon Valley-based Cellfire is pioneering opt-in marketing solutions tailored for consumers’ mobile phones. The flagship service Cellfire is the first-ever application that consumers can download to their cell phones and begin receiving coupons to use at their favorite stores, restaurants and entertainment venues. Major brands such as Hollywood Video, Bath & Body Works, T.G.I Friday’s and 1-800-flowers.com are among the many retailers where consumers can get discounts using the opt-in mobile solution. For more information, please visit Cellfire at cellfire.com.
More on Cellfire here.