Sennari Entertainment completes successful Series B funding round
USD 5 million and a new board of directors appointment announced
Sennari Entertainment has now completed its round of Series B funding, led by UV Partners with contributions from prior investors Novak Biddle and Blacksmith Capitol, which closed on USD 5 million.
The company intends to use the funds to expand its loyalty platform and further develop the recently announced Blingadero Rewards and PrizePlay services. As part of the new investment, Sennari's board of directors will be joined by Carl Ledbetter, a General Partner at UV Partners.
"In getting to know Sennari we were very impressed with the team's vision and expertise in telecom, media and mobile entertainment. We believe the company's loyalty and CRM platform and services are sorely needed in the wireless space," said Ledbetter. "Sennari has assembled the right team to execute on the vision of enhancing the customer experience in the wireless entertainment and applications market, and we're excited to join them in this effort."
Ledbetter will join current board members Bill Barhydt, CEO of Sennari, Phil Black of Blacksmith Capital and Tom Scholl of Novak Biddle Venture Partners.
Commenting on the new board member's appointment, Sennari CEO Bill Barhydt commented: "The team at UV Partners is first class in every way. Their real-world company building experience combined with their deep understanding of technology is going to be invaluable to Sennari."
Sennari recently announced the imminent launch of its new PrizePlay service, which offers mobile gamers the chance to win a prize with every game played. Using the Blingadero Rewards Service, players can earn virtual tokens called 'Bling', which are redeemable against a wide range of prizes.
The company's proprietary platform is an event-driven, client/server system which adds messaging and transaction capabilities to any networked application. The system will be used for the launch of virtual network operator Amp'd Mobile , to provide loyalty points for spending, games with loyalty point prizes and rewards for sharing content with friends.