Angel Street Capital has participated in Mofuse’s recent completion of a Series A preferred stock offering. Mofuse provides a DIY solution for the creation of mobile websites. Angel Street Capital believes that Mofuse provides a much needed service. While much hype has been garnered around mobile applications, the bulk of mobile web interaction occurs in a browser and most websites do not display well on mobile phones. Not every one needs an app as I wrote in a recent blog. While there is a great degree of competition in this area we also believe the opportunity is large enough to support many competitors.
The Mofuse management team is led by CEO Annette Tonti and its founder David Berube. We believe David has an excellent vision regarding the development path of the platform and Annette is a seasoned team leader and energetic new business maven.