$4 Million Investment Into Norwegian Mobile Site Conversion Startup – bMobilized.

    With the new $2.5 million A funding series from Norway’s Alliance Venture, Investinor and Alden AS, the total amount invested into bMobilized is now at $4 million. The last investment was disclosed at $1.5 million and took place in April this year.

    bMobilized has been around for more than two years and offers a cloud-based do-it-yourself technology to easily convert any website into a fully functional HTML5-enabled site. They even claim that the mobile site will have more functionality that the original.

    At the time of the first investment, they had around 50,000 converted websites. As of today, they have already converted over 200,000 websites. They told us that in the past 6 months, their customer base has grown four-fold. They also told Techcrunch that over 200,000 websites have been converted using their technology since May, which is where we guesstimated the 50,000 from.

    At 9 USD/month, this would mean that their monthly revenue can potentially be nearly $1.8 million. Of course that is unlikely to be the case as the numbers probably include free-trials and dropped accounts, but even at 10% of the amount, it will still add-up to $2 160 000 yearly turnover. Which would more than justify the investment, especially considering the 400% growth since May.

    They target small and medium businesses, 98% of whom do not have mobile optimized sites, according to an SMB DigitalScape study.

    The new investment will be used to “invest in resources to better capitalize on current market momentum”. Which is crucial, as many other players are in this market space, such as DudaMobile, who happens to be partnering with Google.

    bMobilized is definitely an exciting company to track and I would not be surprised if they end up being a target for an acquisition by one of the big players.