Business apps developer Mobiquity raises $12m in Series B financing

Mobiquity Inc., a Wellesley company that develops apps for corporate customers, said Wednesday that it has raised $12 million in a Series B financing round led by New Spring Growth and joined by existing investors Longworth Venture Partners and Sigma Partners.

Bill Seibel. Photo taken from Mobiquity website.

Since its founding in 2011, the company said it has raised $17 million to date. The new capital will support Mobiquity’s geographic expansion as well as continued investment in the company’s product portfolio, Mobiquity said.

A Globe story from last October noted that Mobiquity has built apps for Panera Bread, the New York Post, and Weight Watchers; it had about 150 employees at the time and was looking to hire at least 20 more. In its boilerplate, the company says it has worked with more than 140 companies, including The Boston Globe.


In a statement Wednesday, Bill Seibel, Mobiquity founder, chairman, and chief executive, said: “By focusing on strategy, user-centric design and integration — and hiring some of the most talented visionaries in mobile — Mobiquity has stormed into the enterprise mobility market delivering innovation and business value for our growing roster of clients. Q1 2013 has been our best quarter to date, during which we expanded our footprint and development capabilities into Atlanta, New York and Gainesville, and grew our product portfolio. This new round of funding will allow us to continue to expand in line with surging client demand.’’


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