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  • Coveroo Secures $2.3 Million in Series B Funding From Rembrandt Venture Partners

    July 10th, 2010 No comments

    Based in San Francisco, California, Coveroo is a company that has been producing some of the highest quality covers for mobile phones and other consumer electronics. What makes Coveroo so popular is the fact that all its covers are customizable and can fit many consumer electronic devices.

    Evidence of Coveroo’s growth is quite clear in the fact that the company has announced today that it has just secured $2.3 million in series B funding, which was lead by Rembrandt Venture Partners. Other investors who led the funding round include Consor Capital LLC, and Karl Jacobs.

    This funding round was inspired by Coveroo tripling its customer base by sealing contracts with several major league baseball teams, National Basketball Associations, and Marvel Entertainment along with several other prominent entities. This allows Coveroo’s products to be able to have the logos of some of America’s popular baseball and basket ball teams. Customers are able to show their favorite team pride with the covers on their cellphones or other consumer electronic devices.

    According to Richard Ling, general partner at Rembrandt Venture Partners; the people at Rembrandt Venture Partners are very pleased with the momentum that Coveroo has gained with their brilliant idea of personalizing cellphones all over the world. With a combination of strong sales, good partnerships, and unique technology, the company is well poised for great growth in the future.

    Coveroo generates its product with a unique laser that is the company’s own proprietary technology and the laser technology is used to add the design to the cover. Furthermore, the one thing that has boosted Coveroo’s sales is that besides allowing the consumer to choose from over 3,000 designs or the consumer can even do their own design. Furthermore, free shipping and the product being shipped out within 48 hours after the initial order allows Coveroo to develop a growing customer base.

    Rembrandt Venture Partners is a vc firm that primarily invests in startup companies in the tech industry with the primary geographic preference being in Silicon Valley. The firm currently has around $230 million under its management. Rembrandt was established in 2004 and is based in Menlo Park, California. Some other companies that Rembrandt has invested in include Aptana, BetaWave, Pay By Touch, and Rap Leaf.

    Consor Capital, LLC is a vc firm that is devoted to startup companies which are in the consumer goods industry and was founded by Josh and Jay Huffard, who both play key roles in seeking investments and long term equity partnerships. Consor Capital seeks companies which have the right technologies and great ideas that can disrupt the market and build long term equity value. Other companies that Consor has invested in include Safe Harbor, Cloudmark, Paraiso del Mar, Jet Eye, and Jyve.

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