$9.4M venture round will fund growth in Location Services market
SAN JOSE, Calif., Dec. 22, 2010 /PRNewswire-Asia/ -- deCarta, Inc., a leading provider of location based services platform and applications, announced the close of a $9.4M Series D round of financing this quarter in which all of deCarta's existing major investors participated. The funds will be used to accelerate the company's growth in local search, and location services in the fast growing mobile market, including the roll-out of the recently announced deCarta MapSearch offerings.
deCarta's growth is being driven by the accelerating adoption of location-based services among Mobile Network Operators, Mobile Handset OEM's and Local Search providers. Location services such as local search, integrated with on-line maps, provide these companies with new sources of revenue from subscriptions as well as from location-based advertising. Location services are also a critical part of a core offering for any application developer environment.
deCarta's solutions enable customers to offer their own set of local search and location services under their own brand with customized content and applications to fit their audience or geography - thereby retaining customer ownership and monetization opportunities, rather than conceding those opportunities to Internet Service Providers such as Google or Bing.
In October, deCarta announced major extensions to its MapSearch local search platform and its MapSearch mobile application. It also recently announced significant customer adoption including Samsung, Opera Software, Telstra/Sensis and SingTel/Optus in addition to T-Mobile, announced the previous year. In October, deCarta also announced it had been selected by IBM to partner on providing location services as part of IBM's new CSP2 Cloud Computing offering.
"Location services have become a necessary and critical part of any mobile offering, and deCarta is well positioned to serve our partners with solutions that enable them to capitalize on their large consumer positions, brand and content," said J. Kim Fennell, CEO of deCarta. "This financing round gives us expansion capital to capture these opportunities with investments in marketing, sales and engineering."
For more information on deCarta, please visit http://www.decarta.com.
