CMWare Secures Series A Funding from Updata Partners; Investment Accelerates Deployment of Leading PC Place-shifting Solution for Mobile Carriers.PRINCETON Princeton, borough (1990 pop. 12,016) and surrounding township (1990 pop. 13,198), Mercer co., W central N.J.; settled late 1600s, borough inc. 1813, township est. 1838. A leading education center, it is the seat of Princeton Univ. , N.J. -- CMWare, Inc., a leading provider of PC place-shifting solutions for mobile carriers, today 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(TM) 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 com·men·su·rate adj. 1. Of the same size, extent, or duration as another. 2. Corresponding in size or degree; proportionate: a salary commensurate with my performance. 3. with the funding, Tim Meyers and Carter Griffin of Updata Partners will join J. Gerard Aguilar, CTO (Chief Technical Officer) The executive responsible for the technical direction of an organization. See CIO and salary survey. and Dale Skran, VP of Engineering on the board of directors. "Updata's investment in CMWare has validated val·i·date tr.v. val·i·dat·ed, val·i·dat·ing, val·i·dates 1. To declare or make legally valid. 2. To mark with an indication of official sanction. 3. 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." About Updata Partners Based in Reston, Virginia Reston is an internationally known planned community whose goal was to revolutionize post-World War II concepts of land use and residential/corporate development in American suburbia. and Red Bank, New Jersey, Updata Partners is a leading venture capital firm that invests in early and growth stage information technology companies with innovative intellectual property enabling market-leading products and services. Directed by an investment team averaging more than 20 years of entrepreneurial en·tre·pre·neur n. A person who organizes, operates, and assumes the risk for a business venture. [French, from Old French, from entreprendre, to undertake; see enterprise. and private equity experience in the technology industry, Updata seeks investments where the combination of our financial backing and operating expertise will accelerate growth. For more information, visit www.updatapartners.com. About CMWare CMWare, Inc. is a leading provider of PC place-shifting solutions that create value-added data services revenue streams and enhance subscriber loyalty for mobile carriers. CMWare's myMobileMedia(TM) service is the first complete, turn-key PC place-shifting solution that works over any mobile network to reliably stream digital media from subscribers' PCs to their mobile devices in any format, including music files such as MP3, M4A M4A MPEG 4 Audio (audio compression format) M4A Mpeg4 Audio , M4P M4P Making Markets Work Better for the Poor (Hanoi, Viet Nam) and WMA (Windows Media Audio) An audio compression method from Microsoft. Known originally as MSAudio, this proprietary format competes with the MP3 and AAC methods. WMA encodes rapidly and is known to be especially effective at low bit rates. , as well as pictures and DRM-protected content. myMobileMedia is powered by CMWare's patent-pending myPCStream(TM) technology that extends the content and applications stored on PCs to the broad range of mobile handsets used by consumers. For more information, visit www.cmware.com. |
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