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Cellufun raises another $1 million of 'bridge financing'

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Cellufun raises another $1 million of 'bridge financing'
Mobile games community Cellufun has just announced that it's secured another $1 million in financing from Longworth Venture Partners, the second round of funding from this particular firm, which ploughed $3 million into the venture in March 2007.

Cellufun has been pushing its free games far and wide recently, which integrate chat and social networking features into the system. The company recently branched out from its own distribution portal to team up with service carriers and other portals.

This latest capital is being labelled as bridge funding, however, which is generally considered to be something of a lifeline - or at the least, a safety net during a transitional phase. Cellufun is also thought to be seeking yet another round of funding for as much as $7 million, though exactly what this amount capital will go toward is unknown.

Yes. Spanner's his real name. And, yes, he's heard that joke before.