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Maveron leads $11.5M round for Mozes

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Published May 13, 2008 at 5:45 PM


mozes.gifMozes Inc., a text-message-based social networking community and marketing service popular with musicians and fans, has reached for a new $11.5 million second round of funding that includes lead investor Maveron LLC. A Mozes spokesperson confirmed the deal, although the company has yet to issue an announcement. Existing investors North Bridge Venture Partners and Norwest Venture Partners remained on board for the current round as well. Mozes previously raised $5 million in first-round funding in February 2007.

Mozes uses SMS mobile messaging to create communities around popular artists, essentially creating fan clubs via mobile phones. Mozes reportedly intends to reach into other areas beyond music, and already suggests in its FAQ that brands and social groups of all sorts might use the service.

In a panel discussion at the SanFran MusicTech Summit last week, Norwest's Tim Chang cited services companies catering to musicians as one of the few growth opportunities in the music business. -- Paul Bonanos

See Feb. 2007 news item on Mozes' first round from TheDeal.com
See May 12 post about VC investment in the music sector from Tech Confidential

For more, see Private Equity Hub and TechCrunch

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