Wireless Services has closed a $30.75-million funding round, enabling the company to acquire mobile content producer Mobile Media North America and start on an acquisitions tear.

The company, based in Bellevue, Washington, said Wednesday it will change its name to SinglePoint and will deliver mobile media such as messaging, wallpaper, ringtones, and marketing messages to cell phone customers.

This was the third round of funding for Wireless Services. Ignition Partners of Seattle led the round, joined by new investor Rally Capital Services of Kirkland, Washington. Existing investors participating included Northwest Venture Associates, Madrona Venture Group, IntelCapital, and SeaPoint Ventures.

To date, Wireless Services has raised $47 million in venture-backed financing. The company partners with SprintNextel, Cingular Wireless, Verizon Communications, and other top wireless carriers.

Voting on NASCAR by Phone

With the acquisition, the combined company will allow customers to do everything from vote on NASCAR drivers during a race—part of a growing trend in interactive TV—to delivering marketing messages from corporate sponsors like Red Bull.

The company plans to use funds remaining after the acquisition to seek out new targets for acquisition, said Doug Busk, vice president of marketing and product strategy for SinglePoint.

“It’s a whole world of content that is not branded to the carrier,” said Mr. Busk. The market for mobile media is expected to hit $1 billion this year, he added, making the $31 million worth of financing the right size and a “good bet.”

The company must compete with rising stars like Motricity (see Motricity Rings in $32 Million), as well as such heavyweights as Amdocs, which recently bought QPass, and VeriSign, which acquired m-Cube.

Mr. Busk cites both companies’ long histories in the industry—a combined 16 years—and a reputation for reliability as their strongest selling points with big carriers like Verizon and Sprint.

Customers are still unnerved by any intrusion into their mobile phones, so carriers only entrust the technology to those with a track record, he noted.

“Reliability matters,” said Mr. Busk.

Contact the writer:SMugrabi@RedHerring.com

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