CMWare has privately financed the development of its patent-pending place-shifting technology since 2003. The additional capital will allow CMWare to accelerate its global sales and marketing efforts and expand its development staff. Commensurate with the funding, Tim Meyers and Carter Griffin of Updata Partners will join J. Gerard Aguilar, CTO and Dale Skran, VP of Engineering on the board of directors.
“CMWare is well-positioned for success with a unique technology serving a high-growth emerging market and an experienced management team who has a history of working together growing successful start-ups”
"Updata's investment in CMWare has validated our technology and our business plan," said J.Gerard Aguilar, Founder and CTO of CMWare. "The funding enables us to rapidly expand our efforts to provide mobile carriers with an entirely new mobile media service for their subscribers that leverages existing investments and creates compelling opportunities for next generation networks."
"CMWare is well-positioned for success with a unique technology serving a high-growth emerging market and an experienced management team who has a history of working together growing successful start-ups," said Tim Meyers of Updata Partners. "We are excited to work with them to bring this new innovation to market."
About Updata Partners
Based in Reston, Virginia and Red Bank, New Jersey, Updata Partners is a leading venture capital firm that invests in early and growth stage information technology companies with innovative intellectual property enabling market-leading products and services. Directed by an investment team averaging more than 20 years of entrepreneurial and private equity experience in the technology industry, Updata seeks investments where the combination of our financial backing and operating expertise will accelerate growth. For more information, visit www.updatapartners.com.
About CMWare
CMWare, Inc. is a leading provider of PC place-shifting solutions that create value-added data services revenue streams and enhance subscriber loyalty for mobile carriers. CMWare's myMobileMedia(TM) service is the first complete, turn-key PC place-shifting solution that works over any mobile network to reliably stream digital media from subscribers' PCs to their mobile devices in any format, including music files such as MP3, M4A, M4P and WMA, as well as pictures and DRM-protected content. myMobileMedia is powered by CMWare's patent-pending myPCStream(TM) technology that extends the content and applications stored on PCs to the broad range of mobile handsets used by consumers. For more information, visit www.cmware.com.
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