Latest round of funding will help ringbacks specialist to accelerate Euro expansion.
Existing investors BlueRun Ventures and Thule were joined by Orkos Capital, Veddis Ventures and GP Bullhound in the deal.
Muzicall's big idea for ringbacks is to extend the sale and marketing of the product to third party entertainment retailers. Its platform therefore aggregates together all the various platforms used by different operators. The firm provides outsourced services to operators including Orange, Vodafone and T-Mobile.
“The completion of this round of funding puts us in an excellent position to expand throughout Europe and demonstrate that the huge revenues RBTs are delivering for operators in Asia and the US can be realised here too,” said Patrick Allainguillaume, CEO of Muzicall.
Muzicall see huge potential in Europe. It says around two per cent of European mobile users currently have a ringback tone; in parts of Asia that number is approximately 40 to 50 per cent.
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