NewBay Software scores $4.9 million in Series B

Digital lifestyle solutions provider NewBay Software announced the completion of a $4.9 million Series B financing round led by Fidelity Ventures, with participation by existing investor Balderton Capital. According to NewBay, the funds will accelerate its global expansion plans as well as enable the firm to explore acquisition opportunities and increase investment in R&D. NewBay's LifeCache product suite powering user-generated mobile content/social networking services including T-Mobile USA MyAlbum, Orange Photography, Vodafone MyCommunities and O2 Bebo.

For more on the NewBay financing:
- read this release

Related article:
Bebo goes mobile via NewBay