DIGITAL MEDIA

While Ninemsn battles through its executive exodus and the rapidly changing fortunes of its current online business proposition, the international arm of its wholly owned subsidiary 5th Finger has secured $7 million in Australian venture capital funding.

5th Finger International has no affiliation with Ninemsn other than sharing the talents of its 5th Finger co-founder Matt Costello who is Ninemsn’s mobile sales director. Costello is understood to be leaving NineMSN to help run the US headquartered business later this month but was not available for comment.

The mobile marketing specialist raised $7 million from Australian venture capital firm, Starfish Ventures to help fund its ongoing growth in the U.S. The sourcing of the funding locally is viewed as a huge coup for the mobile specialist given the tight investment climate particularly for digital ventures.

“When looking for companies to invest in, we rank innovative and scalable technology together with market vision and thought leadership. In addition, the 5th Finger team has also shown great passion and an ability to deliver,” said Starfish Ventures partner Malcolm Thornton.

He added that in less than one year, 5th Finger had already established a strong foothold in the U.S. market and “we believe the company will enjoy as high a level of success in the U.S. market as in Australia.”

The 5th Finger team works across diverse industry sectors, including FMCG/Beverages, Pharmaceuticals, Retail, Media/TV and Live Events. It’s technology platform, air-cast, provides the advanced level of real-time reporting and analysis measuring real impact and ROI across all digital marketing channels.

The company has already made an impact in the US market working with clients including MSN Mobile, Nike, Newline Cinema, and Amazon. It is also working with leading interactive agencies in the United States, including Avenue A | Razorfish, Grey, and Cadient on mobile marketing programs.

5th Finger is led by CEO, Campbell Corfe, alongside the five company co-founders: Steen Andersson, VP of Marketing; Warren Billington, VP of Sales – Mobile Marketing; Patrick Collins, VP of Engineering; Matthew Costello, VP of Strategy and Luke Forman, VP of Media & Events.

“We consider this to be a great vote of confidence from Starfish. The team is recognized by the industry for creativity and flair in the use of mobile to create added dimension to alternative media spends, and I’m confident that we can deliver on our promise in a new market,” said Corfe.

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