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Viigo Secures Addition to First Round of Venture Capital Financing
Friday, May 09, 2008
TORONTO, May 9 /PRNewswire/ -- Viigo, the software company behind a
revolutionary way to publish, discover and consume content on mobile devices,
today announced RBC Venture Partners has made a $1.5 million follow-on
investment to Viigo's first round of venture capital funding. To date the
company has raised $7.9 million in angel and institutional investment.
"RBC Venture Partners understands that as consumers around the world
rapidly adopt smartphones, they are demanding that useful, interactive content
be delivered in a practical and compelling way," said Mark Ruddock, President
and CEO of Viigo. "We're excited to be working with the team from RBC to
leverage both their insights and their relationships in the mobile space."
The investment will allow Viigo to further accelerate the release of
Project Tango, Viigo's new product offering, scheduled for public Beta in June
of this year, and advance the company's global sales and marketing activities.
Viigo's software -- designed to humanize the mobile experience -- lets
users stay on top of breaking news, locate the best restaurants, find out
about local attractions, monitor the performance of stocks, check the weather,
lookup flight schedules, track the status of flights, and receive
real-time sports scores, all through one simple, made-for-mobile interface
smartphone users won't want to be without.
With this follow-on to the first round of funding, David Unsworth,
Director at RBC Venture Partners, will join Viigo's board of directors. "As
consumers across the globe are driving smartphone adoption and demanding more
meaningful content, Viigo's technology leadership can have a strong impact on
the way a new generation of business users and consumers interact with mobile
devices," said Unsworth. "We're excited to work with the Viigo team to help
drive this vision forward."
Headquartered in Toronto, Viigo was founded in 2004 with the objective to
create compelling and useful solutions for the mobile industry. Company
founders Tas Tsonis, Brian Goldberg, and Jay Steele are experienced veterans
of the mobile software industry, having spearheaded wireless startup Plazmic
Inc. which was acquired in 2001 by BlackBerry(R) developer and manufacturer,
Research in Motion.
Viigo's highly-reviewed debut application is currently featured by
Research In Motion (RIM) on their BlackBerry mobile page, is showcased in the
RIM Built for BlackBerry campaign and is also the "featured app" on
Microsoft's Windows Mobile Owners Circle. Viigo has also been selected as the
official mobile conference application for BlackBerry's upcoming Wireless
Enterprise Symposium.
About Viigo
Viigo Inc. develops and markets one of the world's most popular mobile
content and services applications for smartphones. With over 5,000 channels
and information services, Viigo customers around the world enjoy
up-to-the-minute access to news, weather, sports, market performance,
entertainment, and blogs in one intuitive, simple, freely downloadable
application.
For more information, visit www.viigo.com. To get the current version of
Viigo on your device today, go to www.getviigo.com from your mobile browser.
About RBC Venture Partners
Established in 1997 and headquartered in Toronto, RBC Venture Partners is
the venture capital investment arm of RBC (RY on the TSX and NYSE) with over
C$300 million under management. RBC Venture Partners invests directly in
early and growth stage software, technology and services companies targeting
the financial services and other vertical markets. For more information visit
rbc.com/vp.
Contact:
Alex de Bold
VP Web Marketing
Viigo Inc.
+1 (416) 646-6539
alex.debold@viigo.com
SOURCE Viigo
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