Muzicall, Europe’s leading provider of ring back tone services (RBTs), recently announced it has raised €9 million (about $13,555,000) in its latest round of funding.
Muzicall’s RBT.4.ALL platform enables customers to choose their own content library, which allows them to create a rich and personalized ring tone experience. The platform is developed at Muzicall’s research and development center in Israel. Muzicall opened the Israeli center in 2008 due to the concentration of skilled, knowledgeable high-tech workers in the country. Following the new investment, Muzicall plans to invest further in the facility and develop it into a center of excellence in software development.
The latest funding round sees existing investors Blue Run Ventures and Thule joined by Orkos Capital, Veddis Ventures and GP Bullhound.
Muzicall provides outsourced, end-to-end RBT services to many leading operators in Europe, including Orange, Vodafone and T-Mobile. The funding will enable Muzicall to further implement its vision of making RBTs – usually a piece of music that replaces the ‘ringing’ sound a caller hears before a phone call is answered – available to all European mobile phone users.
The market research consultancy firm, MultiMedia Intelligence says that ring back tones will drive the mobile premium content market, which is expected to triple in value to $4.7BN by 2012.