PixSense announced today that it has secured $5.4 million in
equity funding, led by ATA Ventures and Innovacom. PixSense will use
the funding to accelerate product development, service deployments,
and increasing partnerships with mobile carriers worldwide.
PixSense's patent-pending solution enables users to easily manage
the media they create on their mobile phones, directly from the
handset. Nearly 80% of mobile phones shipped in 2005 are equipped with
digital cameras and one of the biggest problems camera phone owners
face is utilizing their photos and videos. PixSense facilitates and
simplifies the process of managing photos, videos, audio, blogs, and
text from the mobile device. PixSense will be launching this solution
with mobile carriers in early 2007.
The addressable market size for the PixSense solution is large.
According to the Photo Marketing Association Intl, 79 billion
camera-phone photos were taken in 2005, with a projected increase to
227 billion photos per year by 2009. Despite this, approximately 95%
of mobile user-generated content stays on the handset until it gets
deleted. PixSense solves the problem of managing, publishing, and
sharing this content, for all mobile subscribers, including users who
do not have a PC.
"PixSense is a pioneer in the digital media industry and possesses
unique and innovative technology that has the power to change the way
people use their mobile phones," said Mike Hodges of ATA Ventures.
"Our investment in PixSense underscores our confidence in their
product offering, management team, and growth potential."
"We're very excited about PixSense because it solves a true
infrastructure problem for operators to manage and appropriately
monetize mobile media," said Aymerik Renard of Innovacom. "We believe
PixSense has the potential to become a very successful digital media
software company addressing a very large market."
About ATA Ventures
ATA Ventures ("a team approach") is a venture capital firm focused
on seeking out early stage private companies which appear to offer
above average prospects for capital growth. With $350 Million of
capital under management, ATA Ventures focuses on Information
Technology (IT) and provides seed capital and early stages of
financing. For more information, please visit www.ataventures.com.
About Innovacom
Since 1988, Innovacom has helped launch innovative
telecommunication and information technology start-ups such as
Business Objects, Cobalt Networks, Gemplus, Infovista, Intershop,
Kelkoo, LastMinute.com, and Tumbleweed. With over 400 million euros
under management, Innovacom is an active early stage investor in
Europe and North America, working with entrepreneurs focused on the
components, hardware, software and content that enable carriers to
deliver next-generation services. For more information, please visit
www.innovacomvc.com.
About PixSense
PixSense provides mobile media management infrastructure,
software, and services for wireless carriers. PixSense's technology
enables digital media management and rich-media messaging services to
mobile subscribers who increasingly rely on their mobile phone as
their primary media device. PixSense's technology also includes
patent-pending, on-device media compression technology and network
optimization technology that ensure fast transfers, and significantly
reduces costs to both end users and wireless operators. For more
information on PixSense or to try the solution, visit
http://pixsense.com/.
