Friday, September 26, 2008

Transaction Wireless, a mobile infrastructure, commerce and marketing company got 2.25m in Vcs funding

What Company Is Offering:

Transaction Wireless is a mobile infrastructure, commerce and one-to-one relationship marketing company enabling a unique link between consumers, retailers and brands via any mobile device leveraging existing technologies. With unparalleled solutions, Transaction Wireless’ mobile infrastructure and commerce platform allows cell phones to dramatically improve and extend the value of existing gift cards programs, safely and efficiently, unlike ever before.

How Much They Got From VCs:
Transaction Wireless, a mobile infrastructure, commerce and marketing company, announced $2.25 million in Series A funding from Mission Ventures and Okapi Ventures, LP. With the funding comes the appointment of two board members, Leo Spiegel, managing partner of Mission, and Marc Averitt, co-founder and managing director of Okapi. Spiegel and Averitt join CEO Bruce Springer and Transaction Wireless’ CTO and founder Basil Abifaker on the Board.

Spiegel manages investments mainly in early stage IT companies in southern California for Mission Ventures. He serves on the boards of numerous Mission IT portfolio companies and has held a number of C-level positions at various technology firms. He was also named L.A. “Entrepreneur of the Year” in 2000 by Ernst & Young.

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