Nimbuzz Secures Funds for Expansion

Nimbuzz, the mobile VoIP and Instant Messaging (IM) provider that also brings IM and voice to social networks, has raised $15 million (7.6 million) of Second Round funding. The new round of funding was led by Naspers/MIH, with Nimbuzzs other major existing investor, Mangrove Capital Partners, also participating.
Nimbuzz says it will use the funds to continue to develop its product offering for the widest range of handsets, across multiple IM and Social Network communities and in any country. The company is looking to extend its reach to other mobile platforms, including Windows Mobile, iPhone and Android. It also plans to implement additional social and presence-based features to its clients.
We are actively working on strategic distribution deals with leading social networks and mobile operators, says Nimbuzz Founder and CEO, Evert Jaap Lugt. It is our aim to blend our technology with existing mobile Internet access to upgrade the value chain for business and consumers alike. Operators understand the need for services like Nimbuzz which provide traffic and drive the demand for mobile data plans, an ever more important revenue stream.
The company says that deals with 10 major social networks and three operators are already on the table. It adds that extent of the Nimbuzz product portfolio to date has confirmed the investors confidence in the companys potential to stay on top of technology advancements and in turn become an integral part of day to day mobile and Internet communication.
Nimbuzz currently has over 1 million registered mobile users, with over 5,000 new users joining each day. Then company believes that the continued introduction of flat rate mobile data plans by operators across Europe is a sure sign of the importance of mobile Internet services to the future communications industry. It notes that analysts such as IDC suggest VoIP will lead the communication evolution, predicting that there will be around 500 million worldwide personal IP communications subscribers by 2012. Nimbuzz says the latest round of funding will enable it to continue to capitalise on this market opportunity and build important relationships with forward-thinking operators and strategic partners across the world.
The mobile VoIP solution works worldwide on Symbian Series 60 devices when connected using a 3G or wi-fi network. Users with only a GPRS/EDGE connection, or using a Java-enabled phone, can also make international mobile VoIP calls using the Nimbuzz hybrid-VoIP solution to make international mobile calls at local dial-in cost, in as many as 50 countries. Nimbuzz currently works on more than 500 handsets worldwide.