CMWare Secures Series A Funding from Updata Partners

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September 12 2006 CMWare Secures Series A Funding from Updata Partners
CMWare, Inc., a leading provider of PC place-shifting solutions for mobile carriers, recently announced the completion of a Series A round of financing from Updata Partners. The company will use the funding to accelerate deployment of its myMobileMedia™ service, the first complete, turn-key PC place-shifting solution for mobile carriers that reliably streams digital media from subscribers’ PCs to their mobile devices in any format, including music files, pictures and DRM-protected content. CMWare has privately financed the development of its patent-pending place-shifting technology since 2003. The additional capital will allow CMWare to accelerate its global sales and marketing efforts and expand its development staff. Commensurate with the funding, Tim Meyers and Carter Griffin of Updata Partners will join J. Gerard Aguilar, CTO and Dale Skran, VP of Engineering on the board of directors. “Updata’s investment in CMWare has validated our technology and our business plan” said J.Gerard Aguilar, Founder and CTO of CMWare. ”The funding enables us to rapidly expand our efforts to provide mobile carriers with an entirely new mobile media service for their subscribers that leverages existing investments and creates compelling opportunities for next generation networks.” “CMWare is well-positioned for success with a unique technology serving a high-growth emerging market and an experienced management team who has a history of working together growing successful start-ups,” said Tim Meyers of Updata Partners. “We are excited to work with them to bring this new innovation to market.”
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