Boston-area Mobile Investments Spike to $215 Million in First Quarter
Investors put $215 million into mobile technology companies in the Boston area in the first quarter of 2009, according to figures released today by Mobile Monday Boston, the local chapter of the global association for mobile professionals. That’s the largest amount raised by the mobile sector in the last five quarters, and it went to 11 companies.
“Despite reports of widespread venture capital decline, mobile investment in Massachusetts is still on the rise,” Mobile Monday Boston co-founder and organizer Kate Imbach said in a statement. “Boston is quickly establishing itself as the worldwide hub of mobile and wireless.”
The lion’s share of the funds raised came in the form of a $175 million sale of 17.4 million shares of stock by Nuance Communications (NASDAQ: NUAN) of Burlington, MA. Companies that raised venture funds in the quarter included Quantia Communications (Newton, MA, amount undisclosed), Onset Technology (Waltham, MA, $3 million), Vela Systems (Burlington, MA, $550,000), Quattro Wireless (Waltham, MA, $10 million), Extreme Reach (Needham, MA, $1.5 million), Black Duck (Waltham, MA, $9.5 million), Mintera (Acton, MA, $390,000), Everyday Solutions (Concord, MA, $500,000), Ember (Boston, $8 million), and MedAptus (Boston, $6 million).
Here’s a chart from Mobile Monday Boston illustrating quarterly mobile investments in the region: