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Smule Raises $3.9 Million in Venture Capital

Smule Raises $3.9 Million in Venture Capital

The creators of the popular iPhone applications Ocarina and Zephyr have raised $3.9 million in a round of venture capital financing led by Granite Ventures.

‘Bessemer Venture Partners, the lead investor in Smule’s first round, participated in this new round alongside existing investors Jeffrey C. Smith, co-founder and CEO of Smule, and Maples Investments. Smule will use the new funds to enhance its position as a leading developer of innovative applications and services for mobile users.’

This represents one of the largest announced funding events for iPhone-related companies and is particularly impressive given the recent economic downturn.