Cellfire Secures $10 Million Series B Led by Menlo Ventures

Launched initially in December 2005 to a controlled user base in California, Cellfire released its national service in June 2006. In early 2005, the start-up announced that it raised Series A funding from Menlo Park, California-based Storm Ventures. This latest round of funding will enable Cellfire to accelerate sales and marketing efforts, including product enhancement, expansion in business development and partnership activities.

"We are very pleased that Menlo Ventures led this financing, as they have had a tremendous amount of success investing in market-leading technology companies," said Brent Dusing, CEO of Cellfire. "Our investors will help Cellfire realize its vision of delivering valuable discounts at every store and restaurant to every consumer in the country."

Cellfire(TM) is a free downloadable application that provides valuable coupons from a host of local and national retailers within the user's geographic region. It is the only mobile coupon service available today that provides money-saving deals for some of the most popular national venues. Current offers include rent-one-get-one-free from Hollywood Video, a free appetizer at T.G.I. Friday's, as well as numerous discounts from retailers such as 1-800-flowers, Carlson Travel and other local retailers.

"In addition to their standout new mobile service, it was the talent of Cellfire's management team that attracted us to the company," said Doug Carlisle, Managing Director at Menlo Ventures. "We firmly believe that innovative entrepreneurs are critical to the ultimate success of a start-up. Cellfire is unique because it meets these criteria in addition to having a disruptive mobile solution."