Streamezzo Raises EUR4M in Investment Round and Welcomes Innovacom as New Investor

PARIS, May 13 /PRNewswire/ --
- Innovacom Leads Funding to Fuel Growth of Streamezzo Rich Application
Software Platform and Worldwide Expansion

Streamezzo SA., the leading provider of Rich Application
Software platform for mobile, today announced it has raised EUR4 million in
an investment round led by Innovacom, with participation by current investors
Sofinnova Partners, Sofinnova Ventures, Qualcomm, NTEC and GET Valorisation.

For over the last twenty years, Innovacom has supported the launch of
innovative telecommunication and information technology projects. With a
solid background in international deployments and networking, Innovacom is
uniquely positioned to assist start-up companies not only with capitals but
as well as with commercial and partnership opportunities worldwide, with
tier-1 actors in the domain.

"The market of Rich Mobile Application is one of the fastest growing
segments in terms of end-users adoption and has a great impact on the
telecommunication industry as a whole," said Jacques Meheut , Innovacom
General Partner. "With its Rich Application software platform, Streamezzo has
the only proven framework to overcome the highest challenge of this market:
the technological fragmentation and allows to deliver in a productive and
reliable way a richer mobile experience to the mainstream. We are therefore
excited to invest in Streamezzo," Meheut added.

This round of funding will assist Streamezzo in expanding its
international sales and marketing infrastructure, in consolidating its
presence in China as well as in bolstering its leadership position in the
mobile application arena. The new investment will facilitate, among other
activities, to expand its current product and service offerings, as well as
to support its developer's ecosystem with enhanced solutions meeting the ever
growing demand of technology enabling to easily create and massively deploy
innovative rich mobile applications.

"We are excited to close this investment round now, especially
considering the current economic downturn. Thanks to Streamezzo's employees
and executive team, we achieved major competitive wins and demonstrated our
ability to maintain an exceptional high-level satisfaction among our existing
customers. Our patented technology, favoured by mobile operators, device
manufacturers and application providers alike, enabled them to support their
mobile strategy and to deliver outstanding applications," said Oliver Avaro,
Streamezzo CEO. "With this new investment, we will consolidate our base camp
among mobile operators and manufacturers customers and address from there the
fast growing market of the mobile internet which has proven its maturity by
the increasing number of application and apps stores released since the
beginning of the year."

About Streamezzo:

Streamezzo is the software publisher of the mobile open development
platform allowing the easy development of Rich Applications for all major
mobile operating systems: Android(TM), BlackBerry(R), Brew(R), IPhone(TM),
Java(R), Linux(R), Symbian(R) S60 (including last 5th Edition) and Windows
Mobile(R). Streamezzo's comprehensive software framework, innovative
architecture and pre-built software components provide a complete solution
for developing "write once, run anywhere" mobile services that deliver the
ultimate user experience. For more information, please visit
http://www.streamezzo.com.

About Innovacom:

Created in 1988, Innovacom has helped launch innovative telecommunication
and information technology start ups since 1988, such as Business Objects,
Cobalt Networks, Gemplus, Infovista, Intershop, LastMinute.com, Soitec,
Kelkoo, Inventel and Netcentrex. With 600 million Euros under management and
offices in Paris, Stockholm, and San Francisco, Innovacom is an active
early-stage investor in Europe and North America. Innovacom's Partners are
Denis Champenois, Jerome Lecoeur, Jacques Meheut, and Francois Scolan. For
more information, please visit: http://www.innovacom.com



Source: Streamezzo
Distributor: PRNewswire