Capital Chaos

 Cellfire, the mobile phone coupon company, just pulled in $12M in Series C funding led by Silver Creek Ventures.  Previous investors, Menlo Ventures and Storm Ventures also took part in this latest round.  I am particularly interested in this space having been asked to invest in companies with similar goals of providing mobile coupons.  I do beleive that companies like Cellfire, Digital Dialogue and others will continue to enter this space over time and if they have the ability to provide real data back to advertisers and to the retailers.

This latest round of funding comes on the heels of a $10M Series B which was raised back in July, 2006 (The co. had secured $4M in Series A from Storm Ventures). 

Cellfire customers automatically receive coupons on their cell phones in a bit of a blast method (meaning they are not determined by any choice you have told Cellfire about a specific product).  If they accept the coupon, the user will receive a redemption code which works at the participating retailer.  The company says it has distributed more than 8 million coupons worth almost $25M in discounts from brands like Hardee’s, Papa John’s, Hollywood Video and others.

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 Silver Creek Ventures (Dallas, TX) is an early stage VC firm that puts a strong emphasis on great management in the IT space.  While their typical investment size ranges from $2-$7M, they appear to more interested in making select investments rather than diversified - although they have made over 70 investments since their inception.

Areas of focus are mainly:

Networking/Computer Equipment

Wireless & Services

Semiconductors

If you are interested in pitching the firm, you dont need to be a Dallas based business.  Many of their investments have been in companies based throughout the US.  They are also not adverse to being contacted without an introduction and you can send them an executive summary to plans@silvercreekfund.com.

Contact:
5949 Sherry Lane, Suite 1450
Dallas, TX 75225
Telephone: (214) 265-2020