Mezzanine Round Also Includes Strategic Investments from 3Com, EMC and HP
SAN JOSE, Calif. - April 13, 2000 fusionOne, a pioneer in the development of next-generation Internet synchronization technology, today announced it has secured $50 million in a strategic third-round of funding. Led by Chase Capital Partners and Flatiron Partners, the round also includes continued investments from 3Com, Nokia Ventures and fusionOne's original seed investor, El Dorado Ventures. Additional strategic investors include EMC and Hewlett-Packard Co., as well as financial partners Access Technology Partners; Bayview 2000, an employee venture fund of Roberston Stephens; CSFB Private Equity; Deutsche Bank Alex Brown Technology Group; Europ@Web; Morgan Stanley Dean Witter; and select private investors. This significant investment provides fusionOne with the necessary resources to fuel its rapid growth, enhance its technology platform and drive subscribers to its recently announced synchronization e-service for consumers.
In conjunction with this financing, fusionOne is announcing the appointment of Chase Capital Partners' general partner, Shahan Soghikian, to the fusionOne board of directors. Mr. Soghikian joins a board comprised of seasoned industry veterans affiliated with leading companies such as Nokia Ventures, Cisco Systems (Nasdaq:CSCO), eBay (NYSE:GTW), Concentric Networks (Nasdaq:CNCX), and El Dorado Ventures. fusionOne Secures $50M Mezzanine Round
"fusionOne is a trailblazer in the new burgeoning market of wireless data and connecting net-enabled devices," said Shahan Soghikian of Chase Capital Partners. "Their unique architectural platform enables them to deliver unparalleled sync services, as well as a wide range of add-on personal content management services that will revolutionize the way people interact with their devices and their information. We are pleased to be part of their success."
Reinforcing its partnership and commitment to fusionOne, Nokia Ventures is also participating in this round. "We have been extremely pleased with the success that fusionOne has achieved thus far," said John Malloy, general partner at Nokia Ventures. "They are truly leading the pack in the development of a comprehensive platform for managing and delivering data to connected devices, including existing mobile phones and next-generation smartphones. We are excited to continue our investment with the company and leverage their expertise for the benefit of our mutual customers."
fusionOne is developing a next-generation Internet synchronization service that provides the ability to automatically sync information between PCs, handheld devices, Web sites and mobile phones. Unlike similar technologies that require direct contact between devices (i.e. connection cords or cables), fusionOne utilizes the Internet and wireless carrier services to automatically update devices with information changes, regardless of the device's physical location. fusionOne has recently expanded its service to include 1-Click SyncÔ -- the ability to seamlessly sync pertinent online content, such as travel information, event listings and online directories into users' offline devices. With 1-Click Sync, fusionOne subscribers can instantly integrate online content from the Web into their offline world or "personal data sphere," including their desktop PCs, handheld devices, favorite Portal sites, and even mobile phones - all with the click of a mouse.
"We are confident that fusionOne's innovative architecture and vision will be a driving force behind the new era of pervasive computing," said Rick Onyon, president and co-founder of fusionOne. "The backing and support of such an impressive roster of companies is not only an endorsement of the importance of next-generation synchronization technology and services being developed by fusionOne but also supports the potential for fusionOne to drive the market." fusionOne Secures $50M Mezzanine Round
About fusionOne, Inc. Privately held and founded in 1998, fusionOne is the pioneer developer and marketer of cutting-edge Internet Sync software and services that make information access simple and seamless across multiple communications and computing devices. fusionOne's most recent partnerships include Novatel Wireless, Sabre and Snap, the Internet portal service from NBC Internet, Inc. (Nasdaq: NBCI). fusionOne, Inc. is located in San Jose, California and can be found on the Internet at www.fusionOne.com or contacted via telephone at (408) 399-5620.
About Chase Capital Partners Chase Capital Partners (CCP) is a global private equity partnership with approximately $16 billion under management. CCP has been a leading provider of private equity capital since its inception in 1984 and is a diversified investor with significant interests in most major industries. To date, CCP has closed more than 950 individual transactions in North America, Europe, Asia and Latin America, including over 100 investments in technology and communications companies. Recent investments include Digital Island, Stamps.com, Telecorp PCS, Narus, Triton PCS, ITXC, iXL, Starmedia and Kozmo. In addition, through its affiliation with Penske Capital, CCP has a number of investments in automotive related companies. CCP's primary limited partner is The Chase Manhattan Corporation, one of the largest bank holding companies in the United States.
About Flatiron Partners Flatiron Partners (www.flatironpartners.com) is one of the country's preeminent Internet-focused venture capital firms. Located in the heart of Silicon Alley, Flatiron thrives off the synergy between the rapid evolution of digital technology and New York's unique mixture of content, commerce, and communications. The firm has been a pioneer in Internet investing, helping establish and build more than two dozen companies including Geocities, ITXC, iXL Enterprises, Kinkos.com, Starmedia, and Gamesville. Flatiron Partners is committed to the convergence of consumer electronics, wireless technology and the internet. Through Flatiron's 'Pervasive Computing' initiative, the firm will invest more than $50 million in companies that will extend the internet beyond the desktop PC. fusionOne Secures $50M Mezzanine Round
About Nokia Ventures Fund Nokia Ventures is a US $150 million venture capital fund formed in 1998 to invest in early stage, high-growth companies in the areas of e-commerce, information technology and communications. Nokia Corporation has invested in the fund with the express intent to gain exposure to learnings about new markets, business models and technologies beyond the reach of Nokia's current business unit strategies. Nokia Ventures seeks partnerships with leading-edge companies attacking high-growth market opportunities that will benefit from the combined resources, experience and contacts of the Nokia Ventures team and from the association with a world-class brand. For more information, please visit www.nokiaventures.com.
fusionOne, FusionPak, 1-Click Sync and Internet Sync are trademarks of FusionOne, Inc. All other product, service and company names are trademarks, registered trademarks or service marks of their respective owners. |