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Smule(TM) Raises $3.9M in New FundingMENLO PARK, Calif., Feb. 12 /PRNewswire/ -- SonicMule, Inc. (Smule), a premier developer of interactive sonic applications for the iPhone, announced today that it has completed a $3.9 million financing led by Granite Ventures. Bessemer Venture Partners, the lead investor in Smule's first round, participated in this new round alongside existing investors Jeffrey C. Smith, co-founder and CEO of Smule, and Maples Investments. Smule will use the new funds to enhance its position as a leading developer of innovative applications and services for mobile users. "Smule has emerged as a leading brand on the iPhone, acquiring a million customers within the first months of launching its first products," said Chris Hollenbeck, managing director at Granite Ventures and now a member of Smule's board of directors. "Given our experience with Jeff in his previous venture, we're excited to once again join forces as Smule pursues this new opportunity in sonic media." "I'm pleased to have Granite as a partner again and to have Chris join Smule's board of directors," said Jeff. "Chris's background and experience in digital voice, video content, and consumer entertainment are all fundamental to our business as we explore new terrain at Smule." "I also appreciate David Cowan's ongoing support for Smule," Jeff continued. "Bessemer's partners demonstrated some courage when they decided to help Ge and me launch such an odd business this past summer." After taking his previous company public on the NASDAQ, Jeff elected to pursue a doctorate in music composition at Stanford University, where he met Dr. Ge Wang, co-founder and CTO of Smule, and Assistant Professor at Stanford University's Center for Computer Research in Music and Acoustics (CCRMA). Together, Jeff and Ge conceived of SonicMule (aka Smule). "Having realized a 30x gain on my 1997 investment in Jeff's previous company, I'm delighted to work with him again in his new venture, Smule," said David Cowan, Bessemer's managing director. "Ge Wang's vision for sonic media is compelling. Combining Ge's talent and vision with Jeff's business acumen and experience has created an extremely innovative company." Smule has already distinguished itself from the myriad developers vying for App Store real estate. Smule's Sonic Lighter achieved the #1 paid-ranking in ten Apple App Stores around the world and Smule's Ocarina achieved the #1 paid-ranking in over forty Apple App Stores. With each of its products receiving critical acclaim, Smule has attracted more than one million users across eleven thousand unique geographies. "Smule has only begun to tap the creative potential of people around the world," said Ge. "With the support of Granite and Bessemer, we will help people experience music as it's never been experienced before and in turn find new ways of bringing people together." About Smule SonicMule, Inc. (Smule), is a premier developer of interactive sonic applications for the iPhone with headquarters in Menlo Park, California. Founded in June, 2008 and backed by Bessemer Venture Partners, Maples Investments and Granite Ventures, Smule has created an innovative mobile audio platform, enabling a new generation of applications for the iPhone. More information about Smule can be found on the Internet at http://www.smule.com/. Smule, Sonic Network, and Sonic Lighter are trademarks of SonicMule, Inc. Apple is a registered trademark of Apple Computer. iPhone and Appstore are trademarks of Apple Computer. Notice This press release does not constitute an offer of any securities for sale. The securities sold have not been registered under the Securities Act and may not be offered or sold in the United States or elsewhere absent registration or an applicable exemption from registration requirements. SonicMule, Inc. CONTACT: Michelle Sabolich for SonicMule, Inc., +1-415-402-0230,[email protected] Web site: http://www.smule.com/ |