OZ secures $10 million to develop mobile applications

OZ Communications Inc. will be able to focus on the development of future products as Wellington Financial LP have announced a $10 million venture commitment.

Headquartered in Montreal, OZ builds “mobile messaging solutions” for mobile operators, handset manufacturers, portals and online sites … this puts the power into the consumers through IM, Email and Social Networking to stay continuously connected.

“We are excited to be partnering with OZ and to help the team capitalize on the current social networking phenomenon,” said Craig Netterfield, Vice President of Wellington Financial. “Based on their early success and market reaction, there is no doubt that OZ has proven itself to be a leader in the mobile marketplace.”

“OZ has seen very strong growth over the last few years,” said Aaron Akerman, Vice President Finance at OZ Communications. “We are very pleased to bring on a partner like Wellington Financial as we invest further in new product development and increased market expansion.”