Tuesday, September 18, 2007

LocaModa Scoops Up $6.1 Million from DACE

I'm at a conference in New York this week, and yesterday one of the moderators was using Wiffiti to allow audience members to post comments or questions by sending text messages from their cell phones; they appeared on a big screen behind the stage. Turns out that Wiffiti's creator, Somerville-based LocaModa, just raised $6.1 million from DACE Ventures, the new VC firm run by David Andonian and Jon Chait. (Two other investors participated in the round, LocaModa's Series A.) Not sure if this is DACE's first investment, but it's certainly among the first.

LocaModa also has some interesting ideas about "the Web outside" -- basically, screens in public places that people can interact with using their cell phones.

Here's the PEHub item on the funding, the very Spartan DACE Web site, and LocaModa's site.

Joining DACE are investors from India and Japan. LocaModa CEO Stephen Randall writes via e-mail, "LocaModa's business is now better placed to not only grow in [the] USA but also in Asian markets, where the usage of the mobile phone is often a user’s primary interactive device."

In July, Randall was carping about the cluelessness of Boston VCs in my Globe column. Maybe this has changed his mind?

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