Digital publishing solutions provider Mogeneration has successfully completed its first multimillion dollar round of capital raising, enabling the company to continue its national and international expansion, namely the rapid rollout of its Oomph solution for the mobile market.
Founded in 2008 by software veterans Keith Ahern and Tom Adams, Mogeneration initially focused on publishing to touch devices, primarily the iPhone.
Its first project was creating the iPhone version of The Australian, and it now has more than 50 iOS and Android apps.
The launch of the Apple app store saw the company expand its offering with the creation of a cost-efficient and user-friendly application platform for publishers.
The company developed a mobile publishing platform called Oomph, enabling publishers and media agencies to create magazine-style applications on tablet devices.
Clients include ACP Magazines, News Limited, Fitness First, Australian Women’s Weekly, Shop ‘til You Drop, Gourmet Traveller and The Australian.
Mogeneration says it is pleased to announce the successful completion of its first round of capital raising, with Mick Liubinskas from Pollenizer among the list of high profile investors.
Other members of the management team include Chris Hitchen of comparison shopping site Getprice, Andrew Walsh of technology investor TALL Ventures, and Simon Chamberlain, previously of online information service Hitwise.
While Ahern wouldn’t confirm the amount of capital raised, he says the investment and board formation has come at a pivotal time for the business.
“Mogeneration has established clear leadership in an area that promises the highest potential for publishers since the advent of the internet itself,” Ahern says. “While 25% to 30% of magazine circulation is predicted to occur via tablet devices within five years.”
“In this environment, the simplicity of the Oomph solution enables all publishers and content owners to take the step of extending their content to tablet devices, including the iPad and Android devices, with consummate ease.”
“I am delighted that our customer list and continued success in this high growth area has attracted such high calibre investors who not only share our vision, but by joining our board show that they are also committed to assisting us to realise our goals of Australian and international expansion.”
The company plans to expand its sales and marketing departments, with Ahern confirming Mogeneration will send a sales representative to the United States, identified as a key target market.
“We’re also fleshing out other aspects of the business like support,” he says.