Another Series B round for MyStrands at mTrends - mobile media lifestyle trends

Another Series B round for MyStrands

Published by Rudy De Waele December 4th, 2007 in Mobile Apps, web 2.0, Announcements, mobile 2.0, partyStrands, Innovation, Spanish Startups, Startups, Convergence Tags: Announcements, b2, bbva, convergence, funding, innovation, Mobile Apps, mystrands, partyStrands, seriesb, social player, spanish startups, startups, web 2.0.

MyStrands has secured $24 million in its Series B2 round of funding. Spanish bank BBVA led the funding along with existing investor Debaeque. The last round of funding closed in June at $25 million, bringing the total capital raised to date to $55 million. You can read the full details of the anouncement at MyStrands blog.

In the past four years, MyStrands has developed a scalable Personalized Discovery Platform and a Social Recommender Engine. The Social Recommender Engine provides real-time personalized recommendations of products and services through computers, mobile phones, and other Internet-connected devices; and takes into account that taste is context-sensitive and evolves over time. These developments have already resulted in sales of $12 million during 2007. The company will use the new funds to go to the next level of product development. MyStrands recently launched MyStrands.tv, a personalised music tv channel and MyStrands Social Player was featured in the recent Nokia marketing campaign.

MyStrands recently hired some great new people and is busy building a great global team of developers. The company is headquartered in Corvallis, Oregon, and opened offices in San Francisco, New York, Seattle and Washington DC in the US; Barcelona, Madrid, Valencia and Zaragoza in Spain; Helsinki in Finland or Sao Paulo in Brazil.