Vindigo Announces $6.2 Million in Venture Funding for Ongoing Development of Personal Navigation Applications

Newsletters

Content

- Articles
- Columns
- Training
- Library
- Glossary

Career Center

- Career Center Home
- View Jobs
- Post A Job
- Resumes/CVs
- Resource Center

Marketplace

- Marketplace Home
- Software Products
- Wireless Market Data
- Technical Books

News

- Daily News
- Submit News
- Events Calendar
- Unsubscribe
- Delivery Options

Community

- Discussion Boards
- Mailing List
- Mailing List Archives

About Us

- About WirelessDevNet
- Wireless Source Disks
- Partners
- About MindSites Group
- Advertising Information

Wireless Developer Network - Daily News

Vindigo Announces $6.2 Million in Venture Funding for Ongoing Development of Personal Navigation Applications

URL(s): www.vindigo.com

NEW YORK, July 3, 2001-- Original investors General Atlantic Partners, JP Morgan, Flatiron Partners, Gradient Ventures, and Stephens' Ventures all subscribe to second round of funding

Vindigo, the leading developer of personal navigation applications for mobile devices, today announced that it has completed a second round of venture financing totaling $6.2 million. Many of the company's previous investors participated in the new round, including General Atlantic Partners, JP Morgan/Chase, Flatiron Partners, Stephens' Ventures, and Gradient Ventures.

"In the 12 months since Vindigo launched its flagship software for Palm Powered(TM) devices, the company has demonstrated extraordinary growth, going from 5,000 registered users in June 2000 to well over 500,000 today," said a General Atlantic Partners spokesperson. "Many leading media companies have selected Vindigo's mobile publishing platform to distribute their content. The fact that Palm Computing has chosen to bundle Vindigo with all new m100 and m500 series devices is another indication of the company's remarkable success to date. We remain confident about the company's product suite and growth potential."

"We believe that Vindigo is the most widely used platform for accessing location-based services in the world today," said Jason Devitt, chief executive officer of Vindigo. "This new round of funding will enable us to continue our rapid technology development and consolidate our leadership position in the mobile and wireless arena."

The new funds will be applied towards research and development. The company expects to add support for other mobile device platforms before the end of the year, in addition to its current software for Palm Powered (TM) devices and Internet-enabled mobile phones.

Vindigo is the leading developer of personal navigation applications for delivering location-based content and services to mobile computers. Vindigo's proprietary platform enables its partners to publish compelling and comprehensive location-based applications to consumers, customers, or employees, using Palm Powered(TM) handheld computers or Internet-ready mobile phones. Vindigo applications allow people to explore, enjoy, and connect to the world around them.

Vindigo is a privately held company backed by General Atlantic Partners LLC, Flatiron Partners, and select private investors. The company's headquarters is located at 259 West 30th Street, 4th Floor, New York, NY 10001. For information, contact Vindigo at (212) 590-6900 or via the Web at www.vindigo.com.

Sponsors