DIGITAL TRANSIT SERIES A FUNDING OF $2.5 MILLION LED BY NOKIA VENTURE PARTNERS
Dana Point, CA (Dec. 5, 2000) - Digital Transit (www.digitaltransit.net), a leading provider of software to manage and deploy updates to digital products over wired and wireless networks, today announced that the company has received $2.5 million in Series A funding led by Nokia Venture Partners. Other participating investors include Celerity Ventures and Windspeed Ventures. Digital Transit will use the investment to strengthen its sales, marketing, support and software development capabilities. Digital Transit is the first company to deliver comprehensive solutions for managing and deploying updates to smart products over any standard network. Their flagship product, Digital Transit Update Studio™, enables Digital Transit's customers to create and distribute updates and enhancements to products on virtually any operating system or device over both wired and wireless networks. Digital Transit's target customers include software developers and publishers, smart device vendors, and digital content providers. "Digital Transit is excited to have a leading venture capital investor support our vision of enabling smart products to improve themselves while in customers' hands," said Patrick Lilley, CEO and President of Digital Transit. "This investment allows us to capitalize on the opportunity to develop our products for virtually any smart device platform." "Digital Transit has identified an exciting market opportunity and has developed outstanding technology to address it," said W. Peter Buhl, Partner with Nokia Venture Partners. "The company is solving a critical problem faced by makers of all types of smart devices, from the smallest mobile phones to the largest network equipment devices." About Digital Transit About Nokia Venture Partners |
