MOUNTAIN VIEW--- Rosum Corporation Secures $15M in Financing to Fuel Growth in Mobile TV and Home Telecommunications Markets; Ad
Rosum Corporation announced today that it has raised $15 million in new financing. Existing investors Charles River Ventures, Allegis Capital, Steamboat Ventures and KTB Ventures, and new investor TruePosition, Inc., a subsidiary of Liberty Media Corporation, participated in this round of financing.
Skip Speaks, Rosum CEO, commented, "In the past seven months, we have secured partnerships with Intel Corporation and 2Wire Inc. This new financing will enable us to accelerate our expansion into the mobile TV and femtocell markets and to capture emerging global opportunities for our solution. We are grateful for the ongoing support from our current investors and we are excited to add TruePosition, a market leader in the field of location technology, as a strategic investor."
Stephen Stuut, TruePosition CEO, added, "Rosum's TV-positioning solution is well-aligned with our vision of delivering always-available location-based services, indoors and out, with the best technology available. We are pleased to join the Rosum Board of Directors."
Rosum is the first and only company to harness the broadcast TV infrastructure to deliver location and timing solutions where GPS is most challenged - indoors and in urban canyons. The TV infrastructure is robust, distributed, and highly correlated with population centers, cellular service and broadband penetration.
Analysts project as many as 446 million mobile TV handsets will be shipped globally by 2011. For device makers deploying TV-capable mobile devices, for mobile TV network operators and for wireless operators supporting mobile TV handsets, Rosum's TV-positioning technology is a software-only solution enabling location-based services such as search, advertising, and security. Location-based services and advertising provide relevant, timely access to information -- a benefit to consumers and a high-value source of revenue for carriers.
About Rosum Corporation
Rosum is the first and only company to use unmodified broadcast TV signals to power location and timing solutions. Rosum is also the first to combine TV and GPS signals for truly robust hybrid positioning in all environments. Partners include Intel Corporation, 2Wire Inc., Trimble, and the Boeing Company. Rosum's founding team includes the original architects of the GPS constellation. More information is available at www.rosum.com.