ATRUA SECURES $12 MILLION SERIES B FUNDING
Led By NeoCarta Ventures with Participation from Existing Investors, Funds to be used for Production Ramp and Market Expansion
Campbell, Calif. Sept. 7, 2004 - Atrua Technologies, Inc. (www.atrua.com), a leading provider of intelligent touch-based controls for mobile phones, today announced that the company has raised $12 million in Series B financing. NeoCarta Ventures led the round, with participation from existing investors Acer Technology Ventures, Ericsson Venture Partners, Intel Capital, Nokia Venture Partners and McKenna Capital. Andre Turenne, Managing Director at NeoCarta Ventures Partners, will join the Atrua Board of Directors. This latest financing round will further accelerate Atrua’s go-to-market efforts, extend their haptic-based processing technology leadership in the mobile space, and expand their operational capabilities to support growing worldwide adoption of the company’s Atrua Wings solution.
“We were pleased by the interest level from the investment community leading to an oversubscribed, rapid round. We selected NeoCarta as our partner due to their extensive industry experience with wireless and mobile infrastructure technologies,” said Anthony Gioeli, president and CEO of Atrua. “Our unique, compelling value proposition of simplifying the phone user interface while facilitating convenient, more secure access to advanced network services has lead to many key design wins requiring additional funds for operations and field support.”
“We are seeing massive growth in the mobile entertainment and m-commerce markets worldwide and Atrua is the clear leader in making it easy for the end user to fully utilize these advanced services via the wireless phone,” said Turenne. “NeoCarta welcomed the opportunity to work with the Atrua team to help take the Company to its next level of success.”
“Atrua’s solution is a global opportunity as it fills a long-lasting need for wireless consumers,” said Pete Buhl, partner at Nokia Venture Partners. “We are pleased to provide Atrua with both financial resources and strategic guidance to continue its success and global expansion.”
"We continue to be impressed by Atrua’s execution and their incredible opportunity for the mobile market. Solving today’s usability challenges is critical and the company provides an innovative technology solution along with a unique sales and marketing approach," said Jeff Low, partner at Ericsson Venture Partners.
Atrua’s flagship product, Atrua Wings™, provides a compelling value proposition to both mobile phone makers and network operators by simplifying phone user interface and facilitating convenient, secure access to advanced network services. Utilizing the company’s proprietary HaptorXD™ haptic processing technology, Atrua Wings simply converts finger movements into powerful user commands, secure passwords and intuitive, responsive controls. Phones equipped with Atrua Wings are enabled with one-touch commands that accelerate m-commerce and other mobile transactions as well as four-dimensional user controls that enhance the mobile gaming experience and improve handset navigation.
About NeoCarta Ventures
NeoCarta Ventures is a leading venture capital firm with offices in San Francisco, CA and Boston, MA. NeoCarta brings capital, experience, and strategic relationships to the companies it backs. Entrepreneurs choose to partner with NeoCarta because of their strong technology understanding, operations experience, relevant relationships with major corporations, and proven track record. NeoCarta's managing directors have financed over 90 private technology companies, more than 40 of which have succeeded in going public and/or merged with other companies. NeoCarta has $300 million under management and focuses on technology infrastructure companies with tremendous market potential. For more information, visit http://www.neocarta.com.
About Acer Technology Ventures
Acer Technology Ventures is the venture capital arm of the Acer Group, with offices in Silicon Valleyand the Asia Pacific region. Currently, Acer Technology Ventures manages $300 million in capital commitments from limited partners such as J.P. Morgan, Citi Capital, ABN AMRO, Jafco/Nomura, Trigem, DBS, GIC, CDIB and several Acer affiliates. Investment focus of Acer Technology Ventures includes telecommunications, software and fabless IC designs. Further information is available on the Internet at www.acervc.com
About Ericsson Venture Partners
Ericsson Venture Partners (EVP) is a leading venture capital firm based in New York and Boston, Massachusetts. Its strategy is to achieve attractive financial returns by leading investments, across funding stages, in communications technology companies, with an emphasis on mobile. EVP aligns with the knowledge capital of Ericsson while leveraging the support of its other limited partners: Industrivarden, Investor AB, and Merrill Lynch. EVP focuses on Europe and North America through its offices in New York and London. For more information, see www.evp.com
About Intel Capital
Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy in support of Intel's strategic interests. Intel Capital invests in hardware, software and services companies in several market segments, including computing, networking, and wireless communications. For more information, visit www.intel.com/capital
About Nokia Venture Partners
Nokia Venture Partners is a leading global venture capital firm headquartered in Menlo Park, California. Backed by a number of value-add limited partners, the fund leads investments in early stage mobile technology companies around the world. Launched in 1998, Nokia Venture Partners has a strong track record of leveraging its combined resources, experience and contacts to help build successful mobile businesses. The firm also has offices in Washington DC, London, Helsinki, Hertzelia, Seoul, Hong Kong, New Delhi and Tokyo. For more information, visit http://www.nokiaventurepartners.com.
About McKenna Capital
mc3 ventures is an early stage venture capital firm, based in San Francisco, CA. Its strategy is to invest in emerging companies with disruptive technologies at the forefront of new industries and markets. The fund leverages its proprietary deal flow, and unique global network to identify and capitalize on exceptional growth opportunities. Investments span the IT spectrum, with particular focus on enterprise software, wireless communication and semiconductors. For more information, visit www.mc3v.com
About Atrua Technologies, Inc.
Atrua Technologies, Inc. (www.atrua.com) has created an intelligent, revolutionary input system for accessing, navigating and controlling today’s advanced mobile phones, handheld games and other personal electronic devices. Supported by world-class strategic partners and blue chip investors, the company has created Atrua Wings™, a family of products that utilize haptic processing (the science of human touch) to convert finger movements into user commands. Designed for mobile devices, Atrua Wings enables one-touch commands that accelerate mobile transactions, increase gaming excitement and improve navigation. The company’s investors include Nokia Venture Partners, Ericsson Venture Partners, NeoCarta Ventures, Acer Technology Ventures and Intel Capital. For more information please contact Valerie Christopherson at +1 949 306 6476 or via email at vchristopherson@bockpr.com.
All Atrua product names are trademarks of Atrua Technologies, Inc. All other company and product names are trademarks or registered trademarks of their respective owners.
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