BV Capital Invests $3 Million to Cap Sonim Technolgies' First Round of Institutional Funding At $21.6 Million.Business Editors/High-Tech Writers LAS VEGAS--(BUSINESS WIRE)--Oct. 16, 2002 Sonim Technologies Inc. (www.sonimtech.com), a leading provider of IP-based Instant Communications solutions for wireless data networks worldwide, today announced that it has secured a $3 million investment from BV Capital. This investment will add to the $18.6 million round of institutional funding by 3i and Apax Partners announced by Sonim in August. BV Capital manages $275 million of capital, funded by a group of international high-profile investors including AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. Time Warner and Bertelsmann AG Bertelsmann AG German media company. Beginning as a religious printer and publisher in 1835, the company grew steadily over the next century. Though virtually destroyed by Allied bombing in 1945, it recovered quickly after World War II. . With this investment, Mathias Schilling, General Partner of BV Capital, joins the Sonim board of directors. "This investment by BV Capital further validates the opportunity for Instant Communications services, including Push-To-Talk and voice messaging Using voice mail as an alternative to electronic mail, in which voice messages are intentionally recorded, not because the recipient was not available. over wireless data networks," said John Burns This article covers the British politician. For other people with the same name see John Burns (disambiguation) John Elliot Burns (20 October 1858 – 24 January 1943) was a prominent English trade unionist, anti-racist, socialist and politician of the late 19th and , president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Sonim. "BV Capital provides valuable know-how and relationships that will help us to deliver our standards-based solution internationally across a broad range of devices and networks." Sonim Technologies delivers an end-to-end Instant Communications solution that enables wireless carriers to provide real-time voice and text services over wireless data networks. By dynamically optimizing bandwidth consumption to account for changing network types and conditions, the Sonim solution enables compelling applications like Push-To-Talk over heterogeneous wireless data networks. "BV Capital is excited to invest in Sonim, as it solves the market need for compelling wireless data applications," said Mathias Schilling, general partner of BV Capital. "We are confident that Sonim's Push-to-Talk and instant voice messaging solutions are killer applications and provide much-needed revenue-generating opportunities for carriers. After a thorough analysis of the market, we believe Sonim has the leading technology as well as the preferred industry relationships to successfully begin deploying this solution. Given its market progress to date, Sonim is perfectly positioned to exploit strategic opportunities with our fund's partners and we will work aggressively to support Sonim's strategic initiatives." Sonim's open standards-based architecture is designed from the ground up to ensure high availability Also called "RAS" (reliability, availability, serviceability) or "fault resilient," it refers to a multiprocessing system that can quickly recover from a failure. There may be a minute or two of downtime while one system switches over to another, but processing will continue. and to meet the requirements of large-scale deployments. The thin client/smart server solution provides SIP-based call control and presence management. The Sonim Instant Communications client is tightly integrated with core telephony functions, utilizing minimal battery power and memory resources within a broad spectrum of devices. Additionally, the Sonim client may be installed as an application on smart phones, wireless PDAs and PCs. The Sonim Instant Communication server supports open standards Specifications for hardware and software that are developed by a standards organization or a consortium involved in supporting a standard. Available to the public for developing compliant products, open standards imply "open systems;" that an existing component in a system can be replaced for mobile instant messaging Mobile Instant Messaging abbreviated as MIM is a presence enabled messaging service that aims to transpose the Internet desktop messaging such as ICQ or MSN experience to the usage scenario of being connected via a mobile/cellular device. and presence services, enabling interoperability with other messaging infrastructure. About BV Capital BV Capital is an independent venture capital fund with international investors such as Bertelsmann AG, AOL Time Warner, Stanford University Stanford University, at Stanford, Calif.; coeducational; chartered 1885, opened 1891 as Leland Stanford Junior Univ. (still the legal name). The original campus was designed by Frederick Law Olmsted. David Starr Jordan was its first president. and Mayfield Fund Mayfield Fund is a venture capital firm located on Sand Hill Road in Menlo Park, California, home to many of Silicon Valley's leading venture capital firms. Mayfield was founded in 1969 by Tommy Davis, one of the first venture capitalists. . It is the successor to Bertelsmann Ventures LP, and has offices in San Francisco; Hamburg, Germany and Paris. The four founding members of the firm have extensive experience in the Internet, electronic media and telecommunications industries. BV Capital primarily focuses on early stage investments in the media, communications, infrastructure, enabling technologies and wireless application markets. In 2000 the Wall Street Journal named BV Capital as one of the most influential technology financiers on either side of the Atlantic. About Sonim Technologies Inc. Sonim Technologies is a leading provider of IP-based Instant Communications solutions optimized for GPRS (General Packet Radio Service) The first high-speed digital data service provided by cellular carriers that used the GSM technology. GPRS added a packet-switched channel to GSM, which uses dedicated, circuit-switched channels for voice conversations. , 3G and 802.11 wireless data networks. Based on open, global standards, the Sonim platform combines presence and availability with high-margin messaging services such as Push-To-Talk. These solutions allow wireless operators to leverage existing investments in data networks, create new revenue streams and deliver superior "return on bandwidth." Sonim has headquarters in San Mateo, Calif., with sales and engineering offices in Italy, the United Kingdom and India. For more information, visit the company's Web site at www.sonimtech.com. |
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