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 [1].

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 [2].