Mobile social networking, commerce and travel applications to receive
funding from the BlackBerry Partners Fund
TORONTO, Oct. 29 /CNW/ - The BlackBerry Partners Fund LP, a $150 million
venture capital fund formed to focus on applications and services for the
BlackBerry(R) and other mobile platforms, announced today that the Fund has
made investments in buzzd, Digby and WorldMate.
"Since its inception this past May, the BlackBerry Partners Fund has had
the opportunity to review thousands of business plans from companies focused
on developing the next generation of business and consumer applications for
BlackBerry and other smartphone platforms," said John Albright, Co-Managing
Partner of the BlackBerry Partners Fund. "Today, we are announcing investments
in companies that are leaders in the mobile application marketplace."
"Around the world, people are becoming increasingly reliant on mobile
devices in every facet of their lives, whether for business or personal use,"
said Kevin Talbot, Co-Managing Partner of the BlackBerry Partners Fund. "To
capitalize on this unprecedented market opportunity, the BlackBerry Partners
Fund is helping entrepreneurs drive innovation and develop cutting-edge mobile
applications and services with a compelling user experience. Our goal is to be
the primary destination for entrepreneurs that are building behavior changing
smartphone applications and that are determined to be the architects of the
mobile ecosystem of the future."
BlackBerry Partners Fund is proud to announce the following investments:
- buzzd, a location-sensitive city guide and social network for mobile
devices, has raised $3.2 million in a Series A Preferred Stock
financing with BlackBerry Partners Fund, Greycroft Partners, Monitor
Ventures and Qualcomm Ventures.
"buzzd is proud to be one of the first investments of the pioneering
Blackberry Partners Fund," said Nihal Mehta, CEO of buzzd. "With the
proliferation of smart phones around the world, we are excited to be
part of a revolution that leverages rich handset functionality such
as location-sensitivity and increased relevance to consumers
- Digby, a leading mobile commerce service provider, has raised
$5.5 million Series B Preferred Stock with the BlackBerry Partners
Fund and existing shareholders.
"We're thrilled to be working with the BlackBerry Partners Fund to
advance our business to the next level. Their knowledge of the mobile
market and experience with building successful companies will play a
critical role as we expand our marketing and sales activities," said
Dave Sikora, Founder and CEO of Digby, Inc. "We are looking forward
to solidifying our leadership position and accelerating adoption of
our storefronts in the mobile commerce market."
- WorldMate, a company that has paved the way for mobile travel
innovation and serves over one million frequent flyers and road
warriors around the world, has raised $8 million in a Series C
Preferred Stock financing with BlackBerry Partners Fund, Motorola
Ventures and AMC Communications.
"We share the BlackBerry Partners Fund's vision for a mobile internet
business based on meaningful, valuable and profitable consumer
experiences, and are honored that they consider us one of the
companies spearheading movement toward this vision," said Nadav Gur,
CEO of WorldMate. "We've been instrumental in helping the travel
industry enter the mobile space. This funding, as well as our
association with the BlackBerry Partners Fund will help us take our
leadership in this segment to the next level of commercial success."
About BlackBerry Partners Fund
The BlackBerry Partners Fund(TM) is designed to deliver superior returns
on the compelling investment opportunity in applications, services and
supporting infrastructure for the BlackBerry and other mobile platforms. The
Fund's mandate is based on the premise that in the future smartphones will be
powerful portable computers for use at home, work, and leisure. The Fund
invests in companies developing applications that make smartphones a
compelling platform for media, commerce, enterprise, entertainment, and
lifestyle applications. The Fund is global in scope, will consider all stages
of development and is co-managed by JLA Ventures and RBC Venture Partners. For
further information visit: www.blackberrypartnersfund.com.
buzzd (http://buzzd.com) is a location-sensitive city guide and social
network on the mobile device. buzzd answers the question, "What's going on
around me right now? (TM)" by allowing consumers to get up-to-the minute
information on what's happening at any venue right now, rate events and
connect with friends and other people in the area.
Digby is the premier mobile commerce solution provider powering the
mobile channel for top retailers. The award winning Powered by Digby platform
delivers an optimized shopping experience with both web and application based
mobile storefronts that include easy search, browse and purchase capabilities,
personal information integration, secure wallet and location based service
functionality. Led by software industry veterans, the privately held company
is headquartered in Austin, Texas. For additional information, please visit
About WorldMate, Inc.
Based in Lod, Israel, privately held WorldMate(R) develops award-winning
mobile travel software. Removing stress and paperwork from the travel
experience, WorldMate turns a mobile device into a personal travel companion,
providing frequent fliers all the travel services they need at home, work or
on the go. Dubbed a traveler's "guardian angel," the newest addition to the
WorldMate product family, WorldMate Live, tracks every trip and sends
real-time "push" alerts about itinerary updates and changes, including flight
delays and cancellations. WorldMate products also feature travel resources,
such as flight schedules, weather forecasts, travel directories, maps, world
clocks, a currency converter and much more. For more information, visit
www.mobimate.com. WorldMate(R) is a registered trademark of MobiMate Ltd. All
other trade names and trademarks are the property of their respective holders.
For further information:
For further information: Brittany Todd, Porter Novelli, (512) 241-2255,
Brittany.email@example.com; Matthew Bogart, BlackBerry Partners Fund,
(416) 367-2401, firstname.lastname@example.org