LOS ANGELES - Twistbox Entertainment Inc., a producer and publisher of mobile entertainment, has secured $19.5 million in funding led by an affiliate of ValueAct Capital and other strategic investors.
"The capital will be used to drive the launch of our new products that include Web2Mobile Storefronts, Play4Prizes and mobile advertising," Chief Executive Officer Ian Aaron said. "We will also be expanding our direct-to-consumer marketing efforts to take advantage of our rapidly growing traffic and subscriber base. Our direct agreements with major mobile operators in over 40 countries, category-leading content partners and globally deployed [Wireless Application Protocol], mobile-TV and games platforms have positioned us this year for substantial growth."
ValueAct Capital Managing Director Jimmy Price, who will join the Twistbox board, said Twistbox has "built a unique approach as a category leader in its late-night and games businesses."
"With their experienced management team and our strategic capital, we believe Twistbox is well positioned for significant growth organically and through acquisitions," Price said. "We look forward to working actively with the management team and fellow board members to continue the positive momentum in the business."
