July
Systems Closes US$ 10 Million Third Round Funding Led by
Motorola Ventures; Existing Investors Charles River Ventures,
NeoCarta Ventures, WestBridge Capital Partners, Jumpstartup,
and Silicon Valley Bancshares Invest Again
Nov. 2, 2005
July Systems, has secured US$
10 million in Series C funding. Motorola Ventures, the venture
capital arm of Motorola Inc. (NYSE:MOT), led the new round of
investment along with existing investors Charles River
Ventures, NeoCarta Ventures, WestBridge Capital Partners,
Jumpstartup and SVB Financial Group. Reese Schroeder, a
Managing Director of Motorola Ventures has joined the Board of
Directors of July Systems.
"Motorola invests in
innovative companies like July Systems to bring cutting-edge
products and solutions to market," said Warren Holtsberg,
Motorola's Corporate Vice President, Equity Investments.
"Smart mobile retailing technology aligns perfectly with
Motorola's vision of Seamless Mobility -- seamlessly linking
people, information and devices while they move about their
everyday lives."
"This new round of
investment led by Motorola Ventures along with our existing
investors is a strong validation of July's product and market
strategy to date," said Ashok Narasimhan, Chairman, CEO
& Co-Founder, July Systems. "I expect our recently
announced partnership with Motorola, as well as our other
ongoing mobile retailing technology initiatives, to deliver
exceptional progress for July and its stakeholders in the
coming months."
This new round of funding will
be used to strengthen July's global sales and marketing effort
in the US and Europe, and to accelerate July's ongoing and new
product initiatives in the area of its mobile marketplace
solutions for smart mobile content retailing.
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