Nexit leads $12.5m round in Funambol

Nexit Ventures has lead a $12.5m series-B round in Funambol, a California-based provider of open source mobile 2.0 messaging. Other investors that participated in the round were Castile Ventures, as well as existing investors Walden International and HIG Ventures.

The funding will support the company's growth in Europe and Asia, in addition to accelerating its product development.

Funambol's open source push email and personal information management solutions enable mobile operators and service providers to offer push email, contacts and calendars for the mass market. The company's service supports a variety of mobile handsets, including Nokia, Apple, Motorola, Samsung, Sony Ericsson, LG and other smaller manufacturers, and is affordable for consumers. The business is headquartered in Redwood City, California, and was founded in 2001.

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