Streamezzo Raises EUR4M in Investment Round and Welcomes Innovacom as New Investor

Innovacom Leads Funding to Fuel Growth of Streamezzo Rich Application Software Platform and Worldwide Expansion PARIS, May 13
PARIS, May 13 /PRNewswire/ -- Streamezzo SA., the leading provider of Rich Application Software platform for mobile, today announced it has raised EUR4 million in an investment round led by Innovacom, with participation by current investors Sofinnova Partners, Sofinnova Ventures, Qualcomm, NTEC and GET Valorisation.
For over the last twenty years, Innovacom has supported the launch of innovative telecommunication and information technology projects. With a solid background in international deployments and networking, Innovacom is uniquely positioned to assist start-up companies not only with capitals but as well as with commercial and partnership opportunities worldwide, with tier-1 actors in the domain.
"The market of Rich Mobile Application is one of the fastest growing segments in terms of end-users adoption and has a great impact on the telecommunication industry as a whole," said Jacques Meheut , Innovacom General Partner. "With its Rich Application software platform, Streamezzo has the only proven framework to overcome the highest challenge of this market: the technological fragmentation and allows to deliver in a productive and reliable way a richer mobile experience to the mainstream. We are therefore excited to invest in Streamezzo," Meheut added.
This round of funding will assist Streamezzo in expanding its international sales and marketing infrastructure, in consolidating its presence in China as well as in bolstering its leadership position in the mobile application arena. The new investment will facilitate, among other activities, to expand its current product and service offerings, as well as to support its developer's ecosystem with enhanced solutions meeting the ever growing demand of technology enabling to easily create and massively deploy innovative rich mobile applications.
"We are excited to close this investment round now, especially considering the current economic downturn. Thanks to Streamezzo's employees and executive team, we achieved major competitive wins and demonstrated our ability to maintain an exceptional high-level satisfaction among our existing customers. Our patented technology, favoured by mobile operators, device manufacturers and application providers alike, enabled them to support their mobile strategy and to deliver outstanding applications," said Oliver Avaro, Streamezzo CEO. "With this new investment, we will consolidate our base camp among mobile operators and manufacturers customers and address from there the fast growing market of the mobile internet which has proven its maturity by the increasing number of application and apps stores released since the beginning of the year."
About Streamezzo:
Streamezzo is the software publisher of the mobile open development platform allowing the easy development of Rich Applications for all major mobile operating systems: Android(TM), BlackBerry(R), Brew(R), IPhone(TM), Java(R), Linux(R), Symbian(R) S60 (including last 5th Edition) and Windows Mobile(R). Streamezzo's comprehensive software framework, innovative architecture and pre-built software components provide a complete solution for developing "write once, run anywhere" mobile services that deliver the ultimate user experience. For more information, please visit http://www.streamezzo.com.
About Innovacom:
Created in 1988, Innovacom has helped launch innovative telecommunication and information technology start ups since 1988, such as Business Objects, Cobalt Networks, Gemplus, Infovista, Intershop, LastMinute.com, Soitec, Kelkoo, Inventel and Netcentrex. With 600 million Euros under management and offices in Paris, Stockholm, and San Francisco, Innovacom is an active early-stage investor in Europe and North America. Innovacom's Partners are Denis Champenois, Jerome Lecoeur, Jacques Meheut, and Francois Scolan. For more information, please visit: http://www.innovacom.com
SOURCE Streamezzo