Pawtucket-based MoFuse Secures Funding for Growth

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Thursday, January 06, 2011

GoLocalProv Business Team

Pawtucket-based MoFuse, a mobile website developer and content development firm, recently secured $1.27 million from Providence’s Cherrystone Angel Group LLC and Angel Street Capital LLC, which assists emerging digital media companies by providing both consulting services and capital, and the Slater Technology Fund, a state-supported venture capital fund that invests in new ventures. “Were excited,” said Annette Tonti, MoFuse’s CEO, “and we’re really thrilled to get local investors.”

Tonti, who says MoFuse’s work is primarily airmed at mid-size and smaller sized business, explained the Angel investment will be used to fund MoFuse’s growth, including increasing the team there three fold. The company is currently seeking experienced programming engineers and senior account managers. She went to say se has been “extremely impressed” with the extraordinary technology network in Rhode Island, citing specifically, Tech Collective and RI Nexus, a consortium that continues to grow not inly in-state but from the outside in. “Compared to where we were in the early 90s, it’s really changed,” said Tonti.
 

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