Peermeta Secures $6 Million Investment to Fuel Its Growth in the Mobile Content Industry

ACTON, Mass.--(BUSINESS WIRE)--Peermeta, Inc., a new early stage mobile software platform developer,
announced today it has closed on a $6 million Series A investment from
Sigma Partners and Kepha Partners. This funding fuels the company’s
growth beyond the seed stage to complete and launch the product in the
marketplace.

Focusing on the intersection of digitized content, Web 2.0 services,
social networking and mobile technologies, Peermeta provides a
foundation for a new generation of personalized content across
web-enabled mobile devices (handsets, PDAs, media players, gaming
devices). Peermeta is led by long-time serial entrepreneur Cheng Wu, who
founded successful businesses such as Arris Networks, ArrowPoint and
Acopia Networks, and who also was General Manager of Cisco’s
Content and Multiservice Edge businesses. Other members of the founding
team round out a diverse set of expertise from such other companies as
Airvana, Nokia, Tatara Systems, Avid Technologies and Sycamore Networks.

There is a significant capability gap between today’s
mobile and fixed networks. In addition, traditional approaches to mobile
content have a number of constraints, user experience challenges and
have not kept pace with the level of Web innovation.

“Peermeta is changing the way disparate forms
of media are personalized, distributed and consumed”,
said Peermeta founder and chairman, Cheng Wu. “We
are quite pleased to see the level of enthusiasm and shared vision Sigma
Partners and Kepha Partners have shown for our business and look forward
to working closely with them as we set out to bring a new level of
innovation into mainstream adoption.”

“There is a large untapped potential beyond
today’s limited mobile experiences currently
bound by network and device complexities”,
said Bob Davoli, Managing Director at Sigma Partners. “The
Peermeta team has the experience and proven track record of innovation
and execution to move the industry forward in the right direction.”

“Peermeta has the vision to accomplish
something truly unique with the intersection of a number of industry
forces in mobile, Web 2.0 and digitized content”,
said Jo Tango, General Partner at Kepha Partners, who in addition to
this Series A funding, participated in the seed stage early on to help
get the company off and running. “The company
is well positioned for success in this exciting market with Cheng’s
leadership and history of bringing new products into new markets.”

Peermeta also announced today the expansion of its corporate offices to
a new 7,200 square foot facility in Acton, Massachusetts to support the
company’s planned growth and active hiring.

About Peermeta

Peermeta is a pioneer in Web 2.x enabled software platforms for
intelligent end points utilizing mobile broadband infrastructure. The
Peermeta solution enables mobile access to Any Content, on Any Device,
on Any Network, at Any Time. Peermeta provides a method for tapping into
the breadth of distributed heterogeneous content, extending control over
consumable content to users for personalization and sharing among social
networks and enhancing today’s mobile network
capabilities and end-user experiences to help drive mainstream adoption.
The company was founded in January 2007 and is backed by venture capital
firms Sigma Partners and Kepha Partners. For more information, please
visit www.peermeta.com.

About Sigma Partners

Founded in 1984, Sigma Partners is a leading early-stage venture capital
firm. The Sigma team uses their deep operational experience to provide
entrepreneurs with practical strategic counsel through every phase of
company growth. With over $1.5 billion under management and bicoastal
offices, Sigma invests in innovative technology startups across the
United States. Some of the market leading companies in which Sigma has
invested include Atria, Cascade, Clarify, Internet Security Systems,
KLA-Tencor, Octel, VeriFone, Vermeer, and Vignette.

About Kepha Partners

Kepha Partners (KP) is a “venture building”
firm focused on pre-seed, seed and Series A companies. Its mission is to
establish a new standard for venture capital and become the McKinsey &
Co. of the industry by serving visionary entrepreneurs. KP focuses on
helping companies happen. Specifically, the firm offers to entrepreneurs
tangible value by: recruiting trusted and experienced executives from
personal networks, offering private access to market-making customers,
advisors and strategic partners, and working with the same level of
urgency as our entrepreneurs do. KP’s
principals have been founding or first institutional investors in
AutoVirt, Bit9, ExaGrid, Peermeta, StreamBase Systems, Vertica Systems,
and Virtual Iron, many of which started at the “one
founder and an idea” stage. Other investments
include Ask Jeeves (Nasdaq: ASKJ), Digital Market (acquired by Agile
Software), and NextCard (Nasdaq: NXCD). For more information, please
visit www.kephapartners.com.