mBlox Inc

March 09, 2005 09:09 ET

mBlox Secures $7.5 Million in Funding from ORIX Venture Finance, LLC to Accelerate Expansion Plans



MARCH 9, 2005 - 09:09 ET

mBlox Secures $7.5 Million in Funding from ORIX
Venture Finance, LLC to Accelerate Expansion Plans

SAN FRANCISCO--(CCNMatthews - Mar 9, 2005) -

mBlox Inc., the mobile messaging transmission and billing specialist,
today announced it has raised additional funding from ORIX Venture
Finance, LLC ("ORIX"). The loan, worth $7.5 million (USD), will be used
to accelerate the execution of mBlox's business strategy. Since 2003,
mBlox Inc. has raised over $25.8 million in funding (USD).

"ORIX chose to fund mBlox because it believes in our business plan and
in the strength of our investors. As such, I am very pleased to welcome
them as a key stakeholder to mBlox. The experienced professionals at
ORIX not only share our vision for strategic growth and market
leadership, but have committed their resources to support it
financially," said Jeff Clark, mBlox's Chief Executive Officer.

When evaluating the complexities of mBlox's business, ORIX recognized
the potential that will result from expanding mBlox's service offering.
mBlox's messaging service is focused exclusively on the commercial and
technical complexities of A2P messaging. With a strong reputation for
reliability, quality of service and support, mBlox offers clients -
content providers, application service providers and enterprises -
carrier-grade message transmission and international reach for their
mobile services. Working within a short timeframe, ORIX was able to
structure a flexible financial transaction that satisfied mBlox's

"We are very pleased to be able to support mBlox in this rapid-growth
stage of its development. We were impressed with the management team,
and with our knowledge of the mobile messaging industry we are excited
about mBlox's plans for the future," said Michael David, Managing
Director of ORIX Venture Finance, LLC.

About mBlox:

Specializing in the commercial and technical complexities of mobile
payment and message transmission, mBlox is in the business of connecting
companies with customers. The result of this dedicated attention to
messaging services is that mBlox delivers comprehensive and dependable
SMS transport and financial settlement services. With an international
network of offices, mature carrier relationships and carrier-grade
infrastructure, mBlox powers mobile business. mBlox is headquartered in
San Francisco and London, with offices across Europe. For further
information visit www.mblox.com.

About ORIX Venture Finance

ORIX Venture Finance, LLC, a member of the Corporate Finance Group of
ORIX USA Corporation, with offices in Silicon Valley, CA, Hartford, CT,
New York, NY, and Dallas, TX, provides enterprise financing to mid- to
late-stage companies via acquisition and growth capital. The ORIX
Venture Finance team consists of experienced finance professionals who
understand the challenges growth companies face and structure flexible
financing packages to meet these unique needs. For more information
about ORIX Venture Finance, go to www.orix.com.


Contact Information