Report: Movik Networks Raises $25M

Littleton, MA-based Movik Networks, a developer of software for delivering content to mobile devices, has raised $25 million in a Series C round of funding, according to a report in Mass High Tech. The financing was led by Oak Investment Partners and also included previous investors Highland Capital Partners and North Bridge Venture Partners, according to the report.

A company spokesman was not able to confirm the report when I called him this morning, but we’ll update this story when any additional details come in. Movik, whose “Content Aware Edge” software is designed to help mobile phones more speedily access video, websites, social media sites, and other Internet applications, hired Highland venture partner and telecom veteran John St. Amand as CEO in February. The startup raised a $3 million debt deal in December, and previously nabbed $8.75 million in equity based funding.

If the report is accurate, this would be at least the third sizeable venture financing of a Boston-area mobile company announced this week. On Tuesday, enterprise mobile-app firm Apperian said it raised $9.5 million led by three venture firms (including North Bridge), and Mobiquity, a mobile services startup, said it had closed $5 million from two VC firms.

Author: Erin Kutz

Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.