Carmel Ventures Puts $5 Million in SnapMylife

SnapMyLife, a mobile photo-sharing community site, has announced a $5 million round of funding led by current investors North Bridge Venture Partners and Carmel Ventures.

SnapMyLife launched in April, 2008 and has since grown to 1.5 million unique users a month, with over 500,000 registrations. There’s nothing earth shuttering about the product – it allows the standard features such as uploading and tagging images with the option to keep them private.

Rina Shainski, general partner of Carmel Ventures said:

“SnapMyLife has carved out a differentiated offering in the mobile social networking space. We expect SnapMyLife to do well in the current climate, with a strong management team and a compelling service that provides advertisers with high quality, targeted content and users.”

I searched the management’s team page but couldn’t find any connection to Israel. I wonder how the two got connected…

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December 10, 2008 | Comments
Filed Under carmel

 

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