Both Firms‘ Partners Join ClairMail’s Board of Directors
NOVATO, Calif. — August 24, 2005 — Norwest Venture Partners (NVP) and Outlook™ Ventures, two leading high-tech venture capital firms, co-led the Series A round of $8.3 million in funding for ClairMail, a leading application provider of mobile enterprise access solutions. ClairMail will use the new capital to extend sales and marketing efforts into new global markets and distribution channels, as well as further research and development efforts. Also announced today, Venkat Mohan, venture partner with NVP, and Carl Nichols, managing director with Outlook, joined the ClairMail board of directors.
“ClairMail is the first sensible approach to mobile application access. While others have tried to replicate entire applications on mobile devices, ClairMail has designed a solution which enables users to directly access the information they need, quickly and simply,” said Venkat Mohan, venture partner at Norwest Venture Partners.
“With superior technology, significant customer traction, and a mature, experienced management team, ClairMail is poised for market leadership in the space,” commented Carl Nichols, managing director at Outlook Ventures “We are pleased to have the support of both Norwest Venture Partners and Outlook Ventures, two firms with a track record for building successful businesses. With this investment and access to both Venkat’s and Carl’s deep industry and operating experience, we expect to grow our offering and continue to expand our foothold in the space,” said Joe Salesky, chief executive officer of ClairMail.
ClairMail enables 1-click access to business applications and web-based applications from any mobile or desktop device. Delivered as a packaged appliance or hosted solution, ClairMail is a robust and scaleable transactional messaging system that enables organizations to mobilize applications without requiring any changes to applications. It accepts messages from authentic users and acts on their behalf, enabling directed application access via messaging for both wired and wireless users. ClairMail crosses all messaging platforms – email, SMS, IM – and through a “trusted path” is able to access information from any internal application and external source – combining information from multiple sources into one request back to the user. This is all done without a new client or modifications to existing applications.
ClairMail’s breakthrough technology optimizes any mobile phone for two-way customer interaction. Using the mobile phone’s standard and intuitive messaging functionality, ClairMail empowers financial institution customers to easily access secure information, conduct transactions and get no-hold customer service by sending a single text message or email. Additionally, ClairMail’s Actionable Alerts™ enable financial institutions to deliver complete service to customers as an alternative to expensive channels like call centers and IVR. Unlike other proprietary and inflexible point solutions, the ClairMail system is a turnkey, standards-based offering that seamlessly integrates with existing systems and delivers the fastest time to value. ClairMail removes the friction from customer interactions by empowering mobile customers to retrieve and update vital information from any back-end system. Founded in 2004, ClairMail is headquartered in Novato, Calif. The company is privately held and funded by Norwest Venture Partners, Outlook Ventures and JAFCO Ventures. For more information call (415) 884-7270 or visit www.clairmail.com.
Norwest Venture Partners (NVP) has actively partnered with entrepreneurs to build significant businesses for more than 44 years. NVP focuses on early stage investments in information technology including: semiconductor and components, systems, software, services and consumer/Internet technologies. The firm currently manages more than $1.8 billion in venture capital out of its office in Palo Alto, California, USA.
NVP has funded over 350 companies since inception. Recent NVP transactions include Airespace (acquired by Cisco Systems), Resonext Communications (acquired by RF Micro Devices), Spinnaker Networks (acquired by Network Appliance) and Winphoria Networks (acquired by Motorola). NVP has also funded such market leaders as Actel Corporation, Brocade Communications, Cerent (acquired by Cisco Systems), Documentum, Extreme Networks, Forte Software (acquired by Sun Microsystems), PeopleSoft and Tivoli Systems (acquired by IBM). Additional information on Norwest Venture Partners is available at www.nvp.com.
Established in 1996, Outlook Ventures is an early-stage venture capital firm actively investing in industry-transforming information technology companies on the West Coast. The firm applies its breadth of experience and depth of software industry expertise to support great entrepreneurial teams. As a result, 60% of Outlook’s portfolio companies have gone public or been acquired and the firm has delivered returns in the top quartile of all venture funds. Outlook Ventures has helped to launch and to accelerate the growth of companies such as Overture (N:OVTR), Impulse Networks (acquired by Inktomi, now part of Yahoo N:YHOO), Kinecta (acquired by Stellent N:STEL), Soundview Technology (N:SNDV) and Epicentric (acquired by Vignette N:VIGN). For more information, visit www.outlookventues.com.
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