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Trilibis Mobile Secures $5.7 Million in Funding Led by Altos Ventures
(Marketwire Via Acquire Media NewsEdge) SAN MATEO, CA, October 8 / MARKET WIRE/ --
Trilibis Mobile, the leading publisher of
interactive network applications for mobile phones, announced today that it
has raised $5.7 million in Series B financing. Altos Ventures led the round
with participation from ATA Ventures and several early individual
investors. Ho Nam, General Partner and Co-Founder of Altos Ventures, has
joined the board of Trilibis Mobile. Mike Hodges, Managing Director of ATA
Ventures, has joined as a board observer.
"Trilibis has done a great job of establishing relationships with Tier 1
carriers and proving out the SmartPath platform with key content partners,"
said Ho Nam of Altos Ventures. "With this capital infusion, we look forward
to working with the Trilibis team to continue to take market share and grow
the business."
Trilibis develops and publishes all of its applications and mobile web
services using its patented mobile publishing platform, SmartPath?.
SmartPath enables the company to quickly create, broadly deploy, frequently
update and easily manage its customizable, cross-platform mobile
applications.
The newly raised capital will be used to fund development of the next
generation of SmartPath to include support for native applications for
BlackBerry, iPhone, Windows Mobile and Android devices. Additionally,
Trilibis will devote some of the capital to boost its marketing and sales
efforts.
"The tremendous increase in consumer adoption of smart phones has fueled
the growth in mobile data services usage," said Alex Panelli, CEO of
Trilibis. "Our objective is to capitalize on this emerging trend."
"Trilibis is a compelling opportunity because with limited capital the
company has built an impressive portfolio of applications, achieved cross
platform breadth and gained strong carrier support," said Mike Hodges of
ATA Ventures. "We are enthusiastic to partner with Trilibis and help the
company expand its reach into the smart phone market."
With this funding, Trilibis has raised a total of $8.3 million since
inception.
About Trilibis Mobile
Trilibis Mobile is a technology-enabled publisher of interactive network
applications for mobile phones. Trilibis' portfolio includes both original
content and third-party titles under license from popular online
communities and influential digital media companies. With its SmartPath, a
scalable publishing platform, Trilibis is able to quickly create, broadly
deploy, frequently update and easily manage its customizable,
cross-platform mobile applications. Numerous carriers in North America and
Europe distribute Trilibis-powered applications. Founded in 2002, Trilibis
is based in San Mateo, California and has offices in Singapore, India and
Hong Kong. For more information please visit www.trilibis.com.
About Altos Ventures
Altos Ventures is a first-stage venture capital firm focused on leading
investments in emerging technology companies with the goal of building
market leaders. Since 1996, the Altos Ventures team has worked closely with
talented entrepreneurs to build companies that have generated more than $1
billion in revenue. Altos manages $200 million in dedicated first-stage
capital on behalf of leading endowment, fund-of-funds, financial and family
office investors based in the United States and Asia. Altos Ventures is
based in Menlo Park, California. Additional information is available at
www.altosventures.com.
About ATA Ventures
ATA Ventures ("a team approach") is a venture capital firm focused on
seeking out early stage private companies which appear to offer above
average prospects for capital growth. With over $350 Million of capital
under management, ATA Ventures focuses on Information Technology (IT) and
provides seed capital and early stages of financing. For more information,
please visit www.ataventures.com.
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Media Contacts:
Danielle Gotkis
Trilibis Mobile
510-565-5575Email Contact
Copyright ? 2008 Marketwire
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