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Dealipedia - Numobiq Inc receives an investment from Benchmark Capital...

Numobiq Inc receives a $4.5 million investment

Deal Participants:
Company: Numobiq Inc View Profile Charts Homepage
Investors: Benchmark Capital View Profile Add Homepage   Google Search
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Deal Financials:
Investment Amount: $ 4.5 million
Series: A
Date:
Announced: Feb 06, 2008

PRESS RELEASE - Numobiq Inc receives a $4.5 million investment

Numobiq Inc., a global provider of the next- generation platform for enabling mobile content and services, today announced that it has secured a $4.5 million Series A round of funding from Benchmark Capital.



Numobiq has created a revolutionary software platform that turns every mobile handset into a smartphone. Its technology solution adds intelligence to the network, a consumer-friendly experience to the handset, and an array of features and functionality that surpass today's most advanced offerings. Best of all, it works across hundreds of mobile handsets to deliver a common, highly personalized user experience.



Equally important for the growth and development of the mobile market worldwide, the company offers a unique business model that provides significant financial advantage to mobile operators, content developers and technology partners alike.



"Numobiq represents the future of the mobile phone," said Mitch Lasky, general partner at Benchmark. "Finally a breakthrough technology platform and business model exists that will unify the mobile market. Numobiq's management team has the history, technical track record and global relationships needed to redefine the mobile ecosystem, and deliver on the promise of anytime, anywhere information and services."



Numobiq was founded by three entrepreneurs who spent their careers at Sun Microsystems developing and marketing key mobile and software businesses. Mark Young, chief executive officer, served as a technical lead for more than five years on Java 2 Platform, Micro Edition (J2ME), the ubiquitous application platform for mobile devices worldwide. Kenneth Lui, vice president of product marketing and business development, was on the team that brought Sun's original Java Platform, Micro Edition (Java ME), to market in 2000, and has since led global business and marketing groups for both mobile and embedded technologies. Mike Rogers, president, spent 18 years at Sun, most recently as vice president of software for the Customer Network Platform. Throughout his career he played a leadership role on several technology fronts, guiding the team that delivered the initial vision for XML, working closely with W3C to establish it as a standard, and pioneering the first user-installable Local Area Network.



"Our goal is to deliver on the smart pipe promise by creating a digital land of opportunity for all of the mobile market stakeholders," said Mr. Young. "Success on the mobile frontier won't be measured by trying to repurpose desktop applications on today's mobile phone browser. Companies can't afford it, and consumers won't stand for it. Rather, we believe a radical shift in technologies and business opportunities are necessary to inspire a revolution, and that's exactly what we intend to do."



Numobiq's next-generation technology platform and novel business model will benefit all constituents in the mobile information ecosystem in the following ways:
� Mobile Operators. Provides an efficient, smart pipe delivery model that expands the scope and quality of next-generation content and services, creates new revenue opportunities and optimizes delivery costs.
� Consumers. Provides anytime, anywhere access to real-time information sources, and sets a new standard for the way consumers use their mobile phone to communicate and express themselves.
� Content Developers. Fosters innovation, reduces costs and improves time-to-market by providing development tools that are optimized for the rapid delivery of next-generation mobile offerings.
� Sponsors and Advertisers. Delivers unprecedented segmentation to support interactive campaigns, branded product information, and promotions.



About Numobiq
Numobiq Inc. is a global provider of the next-generation platform for enabling content and services. The company, which stands for New Mobile Intelligence (IQ), delivers a technology solution that adds intelligence to the network, a consumer-friendly experience to any mobile handset, and an array of features and functionality that surpass today's most advanced offerings. Its unique business model enables all stakeholders to profit from innovation. The privately-held company is funded by Benchmark Capital, with headquarters in Pleasanton, California. For more information, visit www.numobiq.com.



About Benchmark Capital
Benchmark Capital, a leading international venture capital firm, was founded in 1995 to help talented entrepreneurs with original ideas build successful technology companies. Benchmark's general partners take a team-oriented, labor-intensive approach to venture investing to deliver a superior level of service to the firm's portfolio companies. Benchmark's portfolio includes high-profile start-ups like Infinera, MySQL, OpenTable, Second Life, Tellme, Yelp, and Zillow, and franchise companies such as eBay, Juniper Networks and Red Hat. The firm manages more than USD 2.4 billion in committed venture capital. For more information on Benchmark Capital, visit its website at www.benchmark.com.


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Feb 06 '08
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