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Kiwi firm scoops major US investment

03 Sep 2013

Kiwi tech firm Carnival Labs has secured a major US investment of US$2.4m, in a round of funding led by American company Lerer Ventures.

Founded in 2008, the mobile advertising company says the funding will allow the business to expand its work with many Fortune 500 companies.

Described by creators Guy Horrocks and Cody Bunea as "some of the most experienced brand, agency and technology partners" - the investors include Flybridge Capital Partners, Bowery Capital and Google Ventures.

"Too often brands are focused on simply having a mobile app and don’t think strategically about their ongoing users after an app is live,” said Eric Hippeau, MD, Lerer Ventures, a seed stage venture capital fund.

“We saw this trend happen across social networks over the last few years and the companies that provided the expertise and the tools to drive greater ROI from social efforts rose to the top of the field.

"We are excited to see the same trend taking hold in mobile and think Carnival Labs is best-positioned to meet this demand.”