New Bay Software, a leading provider of digital lifestyle solutions, recently attracted a new investor. In March 2008, the Boston, MA firm Fidelity Ventures invested 6.5 million euros, or 9.88 million dollars, in New Bay. As a result of this deal, New Bay will be able to expand to other countries, spend more on research and development, and acquire smaller companies.
New Bay has previously received funding from Balderton Capital.New Bay Software already has a good track record, often working collaboratively with other major companies. LifeCache is a good example of New Bay’s success. This popular mobile blogging service has more than 250 million subscribers across the globe.
New Bay’s client list includes T-Mobile, Vodafone, Telefonica, and Orange.Fidelity Ventures has been successfully investing in the software and communication markets for the last forty years. In 2007, it generated nearly 800 million dollars. Balderton Capital, previously known as Benchmark Capital, originally invested in New Bay in 2003.
Balderton Capital is one of the biggest venture capital firms in Europe. Since the beginning of the 21st century, it has invested in more than 70 companies across the world.