Los Angeles - Twistbox Entertainment, a producer and publisher of mobile entertainment, announced that it has raised $19.5 million in a new round of funding, led by Valueact Capital.

Los Angeles-based Twistbox provides mobile games, WAP sites and mobile TV channels to over 100 mobile network providers in more than 40 countries.

The company will use the funds to launch new products including mobile advertising, Web2Mobile Storefronts and Play4Prizes, as well as to expand its direct-to-consumer marketing efforts.

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http://www.twistbox.com