Bump Raises $16M
Wade Roush1/11/11
Bump Technologies, maker of software that allows mobile device users to initiate file exchanges by physically bumping their devices, announced in a blog post tonight that it has closed a $16 million second round of funding—a big increase over its first round of roughly $3 million, raised in October 2009. Venture firm Andreessen Horowitz led the new round, which was joined by existing investor Sequoia Capital and micro-VC operations Sherpalo (led by Ram Shriram) and SV Angel (led by Ron Conway). Andreessen Horowitz co-founder Marc Andreessen, of Netscape fame, has joined the board of the former Y Combinator startup. “This round of financing solidifies our priorities to build a world-class engineering and product organization here in Silicon Valley,” CEO David Lieb said in the blog post. (Xconomy interviewed Lieb for a profile article and video published last September.) “We started Bump because we were frustrated that our phones were so useless for directly interacting with those around us, and we’ve only begun to scratch the surface of what is possible when it comes to valuable mobile interactions in the real world.”
