|[September 11, 2006]
General Catalyst Partners Leads Series B Investment in QuickPlay Media's Next-Generation Mobile Video Services; Funding Drives New Product Lineup and U.S., International Expansion
TORONTO & LOS ANGELES --(Business Wire)-- Sept. 11, 2006 -- QuickPlay Media, a leading provider of mobile video and rich-media services, announced during the CTIA Wireless IT & Entertainment Conference, the completion of a $12 million Series B round of financing led by General Catalyst Partners with participation from existing investor, JL Albright Ventures. This new financing will support QuickPlay's continued expansion in the Americas and Europe, as well as marketing of its new mobile video products, Personal Entertainment Center and Personal Entertainment Server.
"General Catalyst Partners has an exceptional portfolio of leading wireless companies," explains Raja Khanna, chief creative officer and co-founder, QuickPlay Media. "To be included in their portfolio is a strong vote of confidence in QuickPlay's next-generation video and mobile content platform."
QuickPlay was the first to introduce mobile video to the Canadian market and continues to serve all Canadian carriers. Additionally, using its flagship white-label products, QuickPlay has created unique, branded mobile rich-media services with ESPN, MTV and E! Networks. The company currently provides an array of video-centric mobile media products and services to carriers and media companies around the world.
"We believe QuickPlay is well positioned for leadership in a strategic and explosively growing segment of the mobile content industry," said John Simon, managing director, General Catalyst Partners. "QuickPlay's proven, multi-tenant technology and service platform enable carriers, partners and media companies to launch downloadable and streaming video, audio, and rich media applications and deliver personalized, relevant services to consumers."
The company's products, QuickPlay Personal Entertainment Center and Personal Entertainment Server, enable personalized video on demand, broadcast TV, radio, and music services. The company's intuitive, context-driven services deliver an improved user experience with less time spent searching -- and more time spent enjoying content.
"We are deeply committed to making mobile video and other content more widely accessible," said Raja Khanna, chief creative officer and co-founder of QuickPlay Media. "The combination of QuickPlay Personal Entertainment Center and Personal Entertainment Server will help open up the mass market to video and other rich-media services that were previously only attractive to early adopters."
About General Catalyst Partners
General Catalyst Partners is a venture capital firm that invests in exceptional entrepreneurs who are building the technology-based companies that will lead innovation and transform industries. Founded in 2000, General Catalyst Partners leverages its principals' extensive operational, business development and technological expertise to provide portfolio companies with a catalyst for success through business-building and partnership development assistance. General Catalyst has approximately $1 billion under management and is headquartered in Cambridge, Mass. For more information, please visit: http://www.generalcatalyst.com.
About QuickPlay Media
QuickPlay Media Inc., a leader in interactive mobile media, is dedicated to delivering next generation mobile users experiences that increase usage and revenue. The company's flagship white-label products, QuickPlay Personal Entertainment Center and QuickPlay Personal Entertainment Server, are supported by a team that combines deep expertise in both media and mobile telecommunications industries. QuickPlay Media was the first to introduce Mobile Video Service to the Canadian market with service to carriers Aliant Mobility, Bell Mobility, Rogers Wireless, SaskTel and Telus Mobility. Most recently, QuickPlay launched programs for ESPN, MTV and E! Networks in the United States. For more information on QuickPlay Media, visit: http://www.quickplay.com.
[ Back To TMCnet.com's Homepage ]