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WirelessDevNet.com Press Release
Orative Raises $12 Million To Advance Mobile Collaboration In The Enterprise
San Jose, CA – Orative, a developer of mobile collaboration software, today announced a $12 million Series B round of funding led by Trinity Ventures. Using these funds, the company will focus on the ongoing development, marketing and sales of its innovative mobile communications solutions aimed at enterprise customers. Previous investors Mayfield and Diamondhead Ventures also participated in this round. To date, the company has secured $18 million in funding.
Orative also announced today that Fred Wang, general partner at Trinity Ventures has joined the company’s board. The current board includes: David Ladd of Mayfield, Raman Khanna of Diamondhead Ventures, and Paul Fulton of Orative.
“The prospect of investing in Orative was extremely attractive because of the company’s winning assets,” said Fred Wang, general partner at Trinity Ventures. “The list starts with Orative’s strong management team, innovative architecture, clear application opportunities and substantial progress in the marketplace.”
Earlier in 2004, Orative put its mobile telephony software into the hands of trial participants from a select group of large enterprises. Testing is currently underway of Orative’s pre-commercial solution which combines “presence” and “availability” and other advanced capabilities designed to vastly improve voice communication across groups of people. The commercial version of the product is scheduled for release later this year.
“Enterprise professionals want to end business delays that result from unnecessary interruptions and frequent occurrences of phone tag. Orative software saves organizations time by helping busy professionals better manage their incoming and outgoing calls from their mobile phones,” said Paul Fulton, president and CEO of Orative. “We are enthusiastic about the opportunity to improve business communications, and we welcome the support we’ve received from this prominent and influential group of investors.”
About Orative
Orative develops software solutions that improve the efficiency of voice communications for enterprise mobile phone users. Orative applications deliver time-saving availability and scheduling feedback to let users be more responsive to business demands. Orative transforms the mobile phone into a true business phone. The company was founded in late 2002, and is headquartered in San Jose, CA. For more information, visit www.orative.com
About Diamondhead Ventures
Diamondhead Ventures is a $140 million early-stage venture capital fund specializing in bringing to market information technologies spinning out of leading research universities and corporations. Diamondhead Ventures’ investment team averages nearly 30 years’ experience building and investing in successful companies. Diamondhead’s world-class advisory board and corporate partners (Sun, Oracle, Fujitsu, HCL Technologies, TeliaSonera and Foxconn) provide the resources and strategic partnerships entrepreneurs need to succeed. For more information, visit www.dhven.com.
About Mayfield
Mayfield is a private venture capital partnership based in Menlo Park, California, that provides entrepreneurs with the experience, resources, teamwork, and vision required to turn new ideas and technologies into successful businesses. Since Mayfield's founding in 1969, the firm has invested in more than 400 information technology and healthcare companies and has taken approximately 100 companies public. Examples of Mayfield-backed firms are Aspect Telecommunications, Silicon Graphics, Compaq and 3Com Corporation. For more information, visit www.mayfield.com
About Trinity Ventures
Founded in 1986, Trinity Ventures is a value-added investor that provides capital, networks and resources to early-stage software, services, communications and networked systems companies. With more than $1 billion under management, Trinity Ventures has a proven track record of working in close collaboration with entrepreneurs to build leading companies, such as Extreme Networks, Network Alchemy, Crescendo Communications, Forte Software, Illustra and Starbucks. For more information on Trinity Ventures, please visit www.trinityventures.com.
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