Motricity raises $40M in VC

Motricity has raised $40 million in a round of venture capital funding led by existing investor Advanced Equities. Other return backers include New Enterprise Associates and Technology Crossover Ventures. During the last few months, Motricity has signed agreements with various customers, including Alltel, Virgin Mobile, Sony Ericsson and BET. That brings Motricity up to $120 million in VC funding since 2001, including July 2005's $35 million round and its $27 million round in late 2004.

For more on Motricity's latest funding:
- see this press release