Press Releases
PixSense Secures $5.4 Million in Series A Funding for Mobile Photo and Video Management Solution
ATA Ventures and Innovacom are lead investors
Santa Clara, CA – December 18, 2006 – PixSense announced today that it has secured $5.4 million in equity funding, led by ATA Ventures and Innovacom. PixSense will use the funding to accelerate product development, service deployments, and increasing partnerships with mobile carriers worldwide.
PixSense’s patent-pending solution enables users to easily manage the media they create on their mobile phones, directly from the handset. Nearly 90% of mobile phones shipped in 2005 are equipped with digital cameras and one of the biggest problems camera phone owners face is utilizing their photos and videos. PixSense facilitates and simplifies the process of managing photos, videos, audio, blogs, and text from the mobile device. PixSense will be launching this solution with mobile carriers in early 2007.
The addressable market size for the PixSense solution is large. According to the Photo Marketing Association Intl, 79 billion camera-phone photos were taken in 2005, with a projected increase to 227 billion photos per year by 2009. Despite this, approximately 90% of mobile user-generated content stays on the handset until it gets deleted. PixSense solves the problem of managing, publishing, and sharing this content, for all mobile subscribers, including users who do not have a PC.
“PixSense is a pioneer in the digital media industry and possesses unique and innovative technology that has the power to change the way people use their mobile phones,” said Mike Hodges of ATA Ventures. “Our investment in PixSense underscores our confidence in their product offering, management team, and growth potential.”
“We’re very excited about PixSense because it solves a true infrastructure problem for operators to manage and appropriately monetize mobile media,” said Aymerik Renard of Innovacom. “We believe PixSense has the potential to become a very successful digital media software company addressing a very large market.”
About ATA Ventures
ATA Ventures (“a team approach”) is a venture capital firm focused on seeking out early stage private companies which appear to offer above average prospects for capital growth. With $350 Million of capital under management, ATA Ventures focuses on Information Technology (IT) and provides seed capital and early stages of financing. For more information, please visit www.ataventures.com.
About Innovacom
Since 1988, Innovacom has helped launch innovative telecommunication and information technology start-ups such as Business Objects, Cobalt Networks, Gemplus, Infovista, Intershop, Kelkoo, LastMinute.com, and Tumbleweed. With over 400 million euros under management, Innovacom is an active early stage investor in Europe and North America, working with entrepreneurs focused on the components, hardware, software and content that enable carriers to deliver next-generation services. For more information, please visit www.innovacomvc.com.
About PixSense
PixSense provides mobile media management and convergence infrastructure, software, and services for wireless carriers. PixSense’s technology enables digital media management and rich-media messaging services to mobile subscribers who increasingly rely on their mobile phone as their primary media device. PixSense’s technology also includes patent-pending, on-device media compression technology and network optimization technology that ensure fast transfers, and significantly reduces costs to both end users and wireless operators. PixSense is funded by ATA Ventures, Innovacom, and Qualcomm Ventures. For more information on PixSense, visit http://pixsense.com/.