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Go2 Media receives $3M in funding

Even in the heart of an economic downturn, go2 Media is plowing forward with more than 2.5 million unique users, which may have played a part in its newly acquired $3 million in funding.

The mobile media company claims that it has now grown to be the most-visited entertainment guide on mobile. As such, Cambridge, MA-based venture firm General Catalyst Partners decided to get in on the action by leading the round in the fundraising of a staggering $3 million.

"Mobile is extending beyond simple communication and news and maturing as a rich-content medium that in many cases is a better platform than the wired Web," said Dan Smith, CEO at go2 Media, Boston. "Consumers are increasingly seeing the value in mobile content and investors continue to see the value in large mobile audiences."

The proceeds of the funding led in a round by General Catalyst Partners will support go2 Media's continued commitment to product development and the expansion of its mobile publisher partners program.

Go2 will also use the funding in strategic partnership endeavors and distribution opportunities.

"Our recent growth validates our belief that mobile is the best platform to help consumers connect with this local entertainment content," Mr. Smith said. "Today, local print publications are still the top source for this content.

"We expect that within two years, mobile will surpass both print and Web visits for users seeking local entertainment and go2 will be the leading source of this content," he said.

Go2 Media has had long-standing partnerships with all of the major carriers nationwide and operates in the top 25 markets, ranging from major markets such as Los Angeles and New York to smaller markets such as Austin, Denver and Portland, OR.

As a provider of local content anytime, go2 Media's content is targeted toward the young, active urbanite.

"Go2's funding ensures our position as one of the durable new media companies emerging from the mobile medium," Mr. Smith said. "Go2 has been a top-20 publisher in the mobile space for years.

"With the help of our investors and our growing audience, we expect to further that leadership position," he said.

The company claims that its technology platform and content partnerships give it the opportunity to deliver compelling experiences to most cities in the United States, truly showing the value of mobile over print as an interactive tool.

Go2 claims that it is expanding its off-deck relationships and partnering with several of the top mobile publishers. Details will be announced in the coming weeks.

"In the coming years, we will see many user cases where mobile becomes the dominant platform and the ?first screen' for consumers," Mr. Smith said. "Companies and brands that commit to building great mobile experiences will connect with large and loyal audiences.

"Access to these audiences through an inherently local platform such as mobile will create new models of marketing," he said.