Danger rakes in $37 million
Hiptop maker plans to boost sales in global markets and announces a manufacturing deal with Sharp.
The financing round included two new investors--Institutional Venture Partners and Adams Street Partners--as well as existing investors, Danger announced Friday. The money will be used to develop links with wireless carriers and boost sales of its Hiptop device sand software globally, the company said.
Hiptop is a combination cell phone and Web-browsing device, on which a number of services and applications can be offered via mobile service providers. Palo Alto, Calif.-based Danger currently works with seven carriers in five countries besides T-Mobile in the United States. It also has teamed up with original equipment makers and content partners for its hardware and software products.
"This oversubscribed round affirms Danger's business model, position in the marketplace and prospects for significant success within the mobile Internet market," Hank Nothhaft, CEO of Danger, said in a statement.
Danger said it plans to work with LCD flat-panel maker Sharp for the manufacturing and sale of its Hiptop device in North America and Europe. Sharp will use Danger's hardware design and software to manufacture, market and distribute products that connect to Danger's service. The Hiptop is designed to enable both in-house and third-party developers to create applications and content for the technology.