A mobile media company, July Systems has raised about $ 7 million through Series C Funding. The investors were led by Intel Capital and existing investors included Sequoia Capital and Footprint Ventures.

The company has posed highly positive results. It recorded a 300% growth in revenues due to high growth in mobile internet consumption along with growing number of customers.

The capital raised will be used for consolidating position in the North American and Asia Pacific region and increase spending on research and development for its new Mi platform. The mi-platform is used for mobile web publishing, cross-platform publishing, rich media advertising technologies; and real-time interactive video and micro-payment management systems.

It will also spend on create an ecosystem of publishers, advertisers and distribution channels to deliver enhanced monetization for all stakeholders.

Rajesh Reddy, Founder and CEO, July Systems said, "Over 80 of the premium media brands in the world are powered and monetized by July's Mi™ platform and this is the foundation for our growth."

He further said that the company will invest in technology, operations and bolstering human resources. He expressed that the company was pleased to have received the confidence of its investors.

Sudheer Kuppam, Managing Director, Intel Capital India, Japan, Australasia and South East Asia said that the July has been involved in innovation and it provided value to some of the world's largest media brands.

Surendra Jain, MD, Sequoia Capital also expressed his satisfaction over the performance of the company in the mobile internet market.