Telephony and Widget Company Kadoink Gets $7M, Plans to Expand in Virtual Worlds

Kadoink, a company that combines widgets, telephony, and music, has raised $7 million in Series A financing from Sutter Hill Ventures. Sutter Hill Ventures Managing Director Andy Sheehan will join Kadoink's board. Kadoink has deployed its widgets across the social network Bebo, that already has some significant virtual worlds components, though it's not clear if Kadoink will integrate with them. The company says it intends to use the funding to branch out into virtual worlds, though, and other social media. “Securing our funding with Sutter Hill Ventures allows us to forge innovative deals with key partners in a diverse set of verticals such as social networks, virtual worlds, music artists and many more on the near horizon. We’re thrilled to have Andy join our board and lend his tremendous insights and expertise to Kadoink’s growth strategy,”  Scott Cahill, CEO of Kadoink, said in a statement.

“With our expertise in identifying emerging and entrepreneurial technology companies, we believe Kadoink and its patented family of technologies will be a highly successful addition to our growing portfolio,” said  Sheehan. “Kadoink possesses a powerful set of web-based telephony functionalities that we believe consumers and developers will soon adopt and embrace.” 

Kadoink has worked with Adidas, Zomba Records, and artists such as Death Cab for Cutie, Jordin Sparks and Third Eye Blind. It says it will soon announce a program with a sports broadcaster.