MocoSpace

Mobile Social Network MocoSpace Raises $3.5M From SoftBank For Gaming Platform

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Mobile social network MocoSpace has raised $3.5 million in a round of strategic funding from SoftBank Capital. This brings the startup’s total funding to $10.5 million.

MocoSpace develops a web-based social network that counts over 14 million users and three billion page views per month. While the network, which launched in 2006, was previously only mobile web-based and prided itself on its users mainly being non-techies who don’t own an iPhone, Android or BlackBerry device, the site has evolved into smartphone apps as well. The site makes money with its virtual currency and through advertising and mainly reaches the 18 to 34 age demographic.

MocoSpace recently launched an Android app, which allows for live chat with friends currently on app or on the mobile website, photo uploads, profile viewing and commenting and message notifications. And MocoSpace now offers users a website, a feature phone site, a smartphone site, and and iPhone app.

The new funding will be used towards expanding social gaming on the platform. The MocoSpace audience already plays one million games on the site per month, but the company will soon be launching its own browser-based mobile social games, and is currently developing partnerships with mobile web game developers to provide a wide range of game titles on its platform. New funding will also be used towards hiring developers and engineers to support the new gaming platform.

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