Orative Receives $6 Million in First Venture Funding; To Pursue Enterprise Mobile Telephony.MENLO PARK Menlo Park.1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Calif., June 26 /PRNewswire/ -- Orative Corporation announced today that it has raised six million dollars in its first round of venture capital financing To start an own company or to bring a new product to the market, the venture may need to attract financial funding. There are several categories of financing possibilities. If it is a small venture, then perhaps the venture can rely on family funding, loans from friends . Orative will use the proceeds of the investment to advance product development and grow the team. Mayfield and Diamondhead Ventures led the round. "Mobile phones are critical to business communications today," said Paul Fulton, 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 Orative. "Unfortunately, many challenges persist in Verb 1. persist in - do something repeatedly and showing no intention to stop; "We continued our research into the cause of the illness"; "The landlord persists in asking us to move" continue the ways that people use their phones in day-to-day situations. At Orative, we are developing mobile software applications that run on the latest Java and BREW-enabled handsets to fundamentally improve how business people use mobile phones to collaborate with colleagues, customers and suppliers." Paul Fulton and the other founders organized Orative in late 2002, and incubated the company in Mayfield's offices where Mr. Fulton most recently served as Executive-in-Residence. Mr. Fulton brings over 19 years of leadership experience from the communications and wireless industries to Orative. Prior to Mayfield, Mr. Fulton served as vice president and general manager of 3Com's Wireless Connectivity Division responsible for pioneering both Wi-Fi and Bluetooth technologies. "Orative is a Mayfield-incubated company pursuing a large opportunity," said David Ladd, Mayfield general partner and Orative chairman. "Like voice mail, e-mail, and the mobile phone, Orative's solution will evolve into an essential part of the enterprise work experience." The company is also pleased to announce that Raman Khanna, general partner and managing director at Diamondhead Ventures, will join David Ladd and Paul Fulton on Orative's Board of Directors. "One of the reasons we are so excited about Orative is the strength of the management team," said Raman Khanna. "The founding team brings solid operating experience from startups and enterprise companies including 3Com, Motorola, Nextel, General Magic, Compaq, TCSI TCSI Transaction Code Status Indicator (telecommunications) TCSI Transaction Code Status Indicator (telecommunications billing) TCSI Tri-City Software, Inc. TCSI Transmitter Channel State Information and Texas Instruments See TI. (company) Texas Instruments - (TI) A US electronics company. A TI engineer, Jack Kilby invented the integrated circuit in 1958. Three TI employees left the company in 1982 to start Compaq. ." About Orative Orative Corporation is an early-stage, venture funded company dedicated to improving the usability and efficiency of voice communications for business users of mobile phones. The company is based in Menlo Park, CA, and has received investment from Mayfield and Diamondhead Ventures. For more information, visit http://www.orative.com/ About Mayfield Founded in 1969, Mayfield has provided Venture Capital with Impact and shown leadership in early-stage venture investing venture investing The acquiring of a stake in a start-up company by a brokerage firm or analyst by obtaining discounted, pre-IPO shares. Critics claim venture investing causes analysts to have a vested interest in seeing a stock appreciate in value and so time and again by teaming up with exceptional individuals to create industry-leading companies. Mayfield has deep domain expertise in applications and infrastructure software, networking and semiconductor communications technology. In the last 33 years, Mayfield has invested in nearly 400 companies and has taken more than 100 of them public. For more information, visit http://www.mayfield.com/ About Diamondhead Ventures Diamondhead Ventures is a $140 million early-stage venture capital fund specializing in bringing to market information technologies spinning out of leading research universities and corporations. Diamondhead Ventures' investment team averages nearly 30 years' experience building and investing in successful companies. Diamondhead's world-class advisory board and corporate partners (Sun, Oracle, Fujitsu, HCL Technologies, TeliaSonera and Foxconn) provide the resources and strategic partnerships entrepreneurs need to succeed. For more information, visit http://www.dhven.com/. CONTACT: John Drewry of Orative, +1-650-233-5796, or jdrewry@orative.com; or media, Melissa Durkin of The Hoffman Agency, +1-408-975-3031, or mdurkin@hoffman.com, for Orative Web site: http://www.dhven.com/ Web site: http://www.mayfield.com/ Web site: http://www.orative.com/ |
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