Mobile media sharing startup Bump scores $16 million

Mobile media sharing solutions developer Bump Technologies closed a $16 million Series B financing round led by Andreessen Horowitz, with existing investors Sequoia Capital, Sherpalo Ventures and SV Angel also participating. More than 25 million users have installed the Bump application on their iOS and Android devices--in its current incarnation, the iOS app enables consumers to exchange contact information, photos, music, calendar events and text messages by tapping one handset against another. A corresponding Android update is in the works. Users share roughly a million photos and 40,000 contact profiles each day--writing on the Bump Blog, co-founder David Lieb notes the firm has added more than a million users over the last two weeks alone, with daily traffic increasing over times in the last five months.

Bump said the new funding will solidify its efforts to build out its engineering and product development team. Lieb adds the startup will continue expanding the scope of the Bump app, introducing new interactive features.

For more:
- read this Bump Blog entry