Report: Movik Networks Raises $25M
Littleton, MA-based Movik Networks, a developer of software for delivering content to mobile devices, has raised $25 million in a Series C round of funding, according to a report in Mass High Tech. The financing was led by Oak Investment Partners and also included previous investors Highland Capital Partners and North Bridge Venture Partners, according to the report.
A company spokesman was not able to confirm the report when I called him this morning, but we’ll update this story when any additional details come in. Movik, whose “Content Aware Edge” software is designed to help mobile phones more speedily access video, websites, social media sites, and other Internet applications, hired Highland venture partner and telecom veteran John St. Amand as CEO in February. The startup raised a $3 million debt deal in December, and previously nabbed $8.75 million in equity based funding.
If the report is accurate, this would be at least the third sizeable venture financing of a Boston-area mobile company announced this week. On Tuesday, enterprise mobile-app firm Apperian said it raised $9.5 million led by three venture firms (including North Bridge), and Mobiquity, a mobile services startup, said it had closed $5 million from two VC firms.