V-Enable Completes $3.75 Million 'Round B' Financing With Private Placement
V-Enable, the worldwide leader in mobile multimodal platform technology, announced today that it has closed a $3.75 million round of funding, bringing total equity capital raised by V-Enable to $5.25 million. This private placement is being led by Siemens Mobile Acceleration Corporation (smac) and Sorrento Ventures. Other investors include Acumen Venture Partners, TCA, Poole Investment Ventures, and individual investors.
This financing will be used to expand the company's worldwide sales, marketing and customer engagement efforts. In addition, research and development of the Multimodal technology platform will also be expanded in the company's offices in San Diego, London, Munich, and Delhi.
"V-Enable's technology has trials and interest from carriers worldwide, and is clearly the leader in the development of server-side Multimodal solutions," said Sven Weber, Vice President of Siemens Mobile. "This investment is an excellent fit with smac's vision of serving both as a strategic partner and as a financial participant in the development of young companies." The investment by smac is their first venture investment in a U.S.-based corporation.
"This investment is an excellent fit with our firm's eighteen year commitment to provide investment capital and vision to Southern California's emerging growth companies," stated Eric Campbell, Vice President, Sorrento Ventures. "While we are excited about V-Enable's state of the art technology, we invested because of management's commitment to build a world-class service organization capable of delivering scalable multi-modal solutions to carriers throughout the world."
"We're very excited about the addition of these investors to our company's roster," said Fernando Corona, president and CEO of V-Enable. "Their support solidifies our position as the worldwide leader in providing Multimodal solutions, and increases our ability to bring creative and receptive mobile applications to the carrier community."
About V-Enable
V-Enable is the mobile Multimodal technology leader that makes wireless data applications easy to use and navigate. This standards-based solution enables services that combine the flexibility and richness of data services with the ease-of-use of speech commands. V-Enable was established in January 2001 with the vision of providing an economic benefit to wireless carriers. The company is headquartered in San Diego, California with sales and technical support offices in London, Munich, and Delhi. V-Enable was founded by wireless experts from Nokia, Motorola, PacketVideo and Cisco. V-Enable can be reached at (858) 824.1888, via email at: info@v-enable.com or at www.v-enable.com.
About Siemens Mobile Acceleration (smac)
A wholly owned subsidiary of the Siemens Information and Communication Mobile Group. Siemens Mobile Acceleration fosters early stage start-ups that focus on wireless applications and technologies for mobile communication by providing seed financing and value-added services. Based in Munich, Germany, Siemens Mobile Acceleration is further represented in Stockholm, London, Paris, Milan, Dublin, Vienna as well as in Beijing, Shanghai, Helsinki and San Jose (USA). For more information on smac please visit www.siemensmobileacceleration.com.