July Systems Closes US$ 10 Million Third Round Funding Led by Motorola Ventures
Existing Investors Charles River Ventures, NeoCarta Ventures, WestBridge Capital Partners, Jumpstartup, and Silicon Valley Bancshares Invest Again
PRESS RELEASE
Santa Clara, CA, Nov 02, 2005 - July Systems, a leading provider of smart mobile retailing technology, announced that it has secured US$ 10 million in Series C funding. Motorola Ventures, the venture capital arm of Motorola Inc. (NYSE: MOT), led the new round of investment along with existing investors Charles River Ventures, NeoCarta Ventures, WestBridge Capital Partners, Jumpstartup and SVB Financial Group. Reese Schroeder, a Managing Director of Motorola Ventures has joined the Board of Directors of July Systems.
"Motorola invests in innovative companies like July Systems to bring cutting-edge products and solutions to market," said Warren Holtsberg, Motorola's Corporate Vice President, Equity Investments. "Smart mobile retailing technology aligns perfectly with Motorola's vision of Seamless Mobility - seamlessly linking people, information and devices while they move about their everyday lives."
"This new round of investment led by Motorola Ventures along with our existing investors is a strong validation of July's product and market strategy to date," said Ashok Narasimhan, Chairman, CEO & Co-Founder, July Systems. "I expect our recently announced partnership with Motorola, as well as our other ongoing mobile retailing technology initiatives, to deliver exceptional progress for July and its stakeholders in the coming months."
This new round of funding will be used to strengthen July's global sales and marketing effort in the US and Europe, and to accelerate July's ongoing and new product initiatives in the area of its mobile marketplace solutions for smart mobile content retailing.
About July Systems
July Systems provides innovative mobile market solutions that enable mobile operators and content retailers to multiply revenues and profits by transforming the retailing of mobile content to reach the mass-market. July's integrated end-to-end mobile marketplace solutions and managed services are currently deployed across multiple operators and other customers across the US and Europe who reach over 220 million mobile consumers. Founded in 2001, July Systems is privately held, and has its headquarters in Santa Clara, CA, Global Product Center in Bangalore, India, and European offices in Germany and UK. For more information: www.julysystems.com.
About Motorola Ventures
Motorola Ventures (MV) is the global, strategic venture capital investment arm of Motorola, Inc. MV actively invests at all stages in developing companies of strategic value to Motorola in order to accelerate access to new technologies, new markets and new talent. For more information: www.motorola.com/ventures .
About Motorola
Motorola is a Fortune 100 global communications leader that provides seamless mobility products and solutions across broadband, embedded systems and wireless networks. In your home, auto, workplace and all spaces in between, seamless mobility means you can reach the people, things and information you need, anywhere, anytime. Seamless mobility harnesses the power of technology convergence and enables smarter, faster, cost-effective and flexible communication. Motorola had sales of US $31.3 billion in 2004. For more information: www.motorola.com .
Contact Information:
July Systems (US)
Gigi Wang, Vice President of Marketing
Tel: +1-408-235-1452, E-mail: gigi@julysystems.com
Web - www.Frazer-nash-communications.co.uk
Email - fnc@frazer-nash-communications.co.uk
Skype - frazernashcommunicationsuk
Tel - 0044 01296 712522