Mobile Coupon Firm Cellfire Gets $12 Million Funding

CellFire, the San Jose, CA.-based mobile coupon firm, has raised $12 million in its third-round funding. The round was led by Silver Creek Ventures, and was joined by return backers Menlo Ventures and Storm Ventures. Proceeds will be used to expand the company’s sales and marketing efforts, along with increasing product functionality, business development and partnership activities, it said.

Cellfire, founded in 2005, did a deal a year later with Conde Nast to sell subscriptions to its magazines via mobile. The company says it has distributed more than eight million coupons worth more than $24 million in discounts. Stores accepting Cellfire coupons include Hardee