Thursday, September 7th, 2006
Handmark Says Hello Moto as It Gets a Hand in Series B Funding Posted by Sven @ 22:19 (GMT)
Palm software developer Handmark, a portal for games such as Tetris, Monopoly, and Yahtzee, has just scored big time itself with $5 million dollars in cold cash from Motorola Ventures. We send you to the PR, for the full deats.
Handmark, the leading on-device portal company, today announced that it has closed $5 million in Series B funding led byMotorola Ventures, the strategic investment arm of Motorola, Inc. (NYSE: MOT), as well as participation from Series A investors Agnor Wireless Ventures, Apax Partners, Borealis Ventures, Village Ventures and Hanna Capital Management.
The funding will be used to accelerate Handmark leadership in the fast-growing on-device portal category, including expansion of Handmark® Pocket Express™ content and infotainment services. Pocket Express is the Handmark flagship product and the market’s favorite on-device portal — installed on more wireless handsets in the U.S. than all other independent mobile portals combined. Funding will also be used to advance international expansion in Europe and Asia.
“Motorola’s decision to invest in Handmark was driven by its outstanding on-device portal that starts, ends and wins with the consumer,” said Warren Holtsberg, corporate vice president of equity investments at Motorola, Inc. “Handmark’s compelling Pocket Express application is already available for the extremely popular MOTO Q™.”
“Next-generation content delivery will further accelerate the consumer adoption of information and entertainment on mobiles devices,” said Christy Wyatt, vice president of ecosystem and market development for Motorola Mobile Devices. “We believe it is one of the key components of the mobile device ecosystem and consumer experience.”
“Handmark is thrilled to have Motorola as an investor. It invented the mobile marketplace and continues to lead with best-selling designs that delight customers worldwide,” said Handmark CEO August Grasis III. “With this investment Handmark will accelerate the leadership position of Pocket Express by expanding the variety and availability of high-value content and by making it available worldwide.”
Updated: Press release updated per Handmark.
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