Mobile Firm Receives $19.5 Million in Funding

Mobile entertainment company Twistbox Entertainment Inc. received $19.5 million in funding to be used to launch new products. ValueAct Capital SmallCap Partners and other strategic investors provided the funding to Sherman Oaks-based Twistbox. Web2Mobile Storefronts, Play4Prizes, and Mobile Advertising are the new products the company will launch. “We will also be expanding our direct-to-consumer marketing efforts to take advantage of our rapidly growing traffic and subscriber base,” said Twistbox CEO Ian Aaron. ValueAct invested with Twistbox for its unique approach as a leader in its late night and games businesses, said Jimmy Price, a managing director at ValueAct Capital SmallCap Partners. “With their experienced management team and our strategic capital, we believe Twistbox is well positioned for significant growth organically and through acquisition,” Price said.