Thursday, September 25, 2008

Transaction Wireless Scores $2.25M

San Diego-based Transaction Wireless announced this morning that it has raised $2.25M in a Series A funding. The funding came from Mission Ventures and Okapi Ventures. According to the firm, it is developing mobile infrastructure for relationship marketing, including mobile POS and mobile gift cards. Transaction Wireless said the funding will go towards sales and marketing expansion, technology development, and customer deployment. Leo Spiegel of Mission Ventures and Marc Averitt of Okapi Ventures have joined the firm's board as part of the funding. Transaction Wireless is headed by Bruce Springer, formerly of Bidshift, and its CTO and founder is Basil Abifaker, who is formerly of Tourmaline Networks. More information »