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Press Releases
DEVICESCAPE SECURES $12.2 MILLION IN FUNDING
Enterprise Partners Venture Capital and JAFCO Ventures Join Existing Investors in Series B Financing of Market Leader in Software for Wireless Devices
Brisbane, CA, - January 31, 2005 - Devicescape Software (formerly Instant802 Networks), a leading supplier of software for wireless device manufacturers and service providers, today announced that it closed $12.2 million in venture capital funding. Enterprise Partners Venture Capital and JAFCO Ventures joined the company's original investors — Kleiner Perkins Caufield & Byers, August Capital and Applied Materials Ventures, all of whom also participated in the round . The funds will be used for product development and expansion of the company's sales and marketing capabilities. Bill Stensrud, managing director of Enterprise Partners, has joined Devicescape's board of directors.
Consumers and enterprises alike are increasingly turning to wireless devices to simplify their personal and professional lives. In fact, analysts estimate that 14 billion wireless devices will be in circulation by 2008. With this explosive demand, users are seeking simplicity with compatible wireless devices, as well as a flexible, reliable and secure way to manage them. Devicescape addresses these challenges with its wireless software products and services. As the leading provider of wireless device software, Devicescape's software has already been deployed in dozens of wireless product designs and the company sees the opportunity for rapid growth in the coming years with the popularity of wireless devices.
"Devicescape has a great opportunity to expand its business with Japanese consumer electronics vendors, all of whom are looking to add wireless to their product lines," said Joe Horowitz, managing general partner of JAFCO Ventures. "We look forward to working with Devicescape to expand its presence in Japan with our knowledge of the marketplace and in-country business development staff."
"Devicescape has experienced tremendous success in the development of wireless software for device manufacturers and service providers," said Stensrud. "We look forward to working with the company to leverage its leadership position in the United States and to expand the capabilities of its wireless software products."
"This round of financing is a testament to the unrivaled quality of our software and Devicescape's ability to meet the demands of an increasingly untethered society," said David Fraser, CEO of Devicescape. "We are pleased to add a strong list of investors as we continue to build the company."
About Devicescape
Devicescape is a leader in software for wireless devices. The company provides embedded platforms and enterprise applications that enable manufacturers to create diverse wireless devices, and enable users and service providers to manage and control the resulting distributed networks. The embedded platforms integrate leading-edge wireless communications, security, management and operating systems. The company also provides complete reference implementations for numerous applications and a rich foundation for customer innovation. Devicescape's products are used today in the networking and consumer electronics markets, where wireless technology is enabling advances in communications, commerce, entertainment and education. Headquartered in Brisbane, Calif., the company is privately held and venture-backed by Kleiner Perkins Caufield & Byers, August Capital, Enterprise Partners Venture Capital, JAFCO Ventures and Applied Materials Ventures. To learn more, please consult www.devicescape.com.
Devicescape Contacts:
Schwartz Communications, Inc.
Leslie Johnson
+1.415.512.0770
devicescape@west.schwartz-pr.com
Devicescape Software, Inc.
Beth Rogozinski
+1.650.829.2648
beth@devicescape.com