Search and Sound Recognition Innovator MELODIS and Creator of Midomi Raises $7 Million in Series B Funding
Series B Funds Will Be Used to Monetize and Distribute the Company’s Mobile Music Search and Sound Technology Worldwide
SAN JOSE, California, – October 7, 2008: Pioneering search and sound recognition company MELODIS Corporation today announced that it has raised $7 million in Series B funding, bringing total funds raised by the company to $12 million. The funds will be used to monetize and distribute MELODIS’s unique music search technology, which enables users to discover music via midomi by singing, humming, speaking, typing or playing original music sources into their mobile phones, as well as distribute other search and sound recognition products being developed by Melodis. TransLink Capital led this latest round of financing with the participation of JAIC America and existing investor Global Catalyst Partners.
“Our goal is to build a thriving international business around our search and sound technologies as quickly as possible,” said Keyvan Mohajer, president and chief executive officer of MELODIS Corporation. “All three of our investors have strong ties to international markets, particularly Asia, where mobile networks, devices and usage are highly advanced. Their global expertise will be invaluable to us as we begin distributing our search and sound technologies to mobile markets around the world.”
As part of TransLink Capital’s investment in MELODIS, co-founder and Managing Director, Jay H. Eum has joined the company’s board of directors. Eum is responsible for investments in mobile and digital media at TransLink Capital, and supports portfolio companies with their customers and partners in Asia.
“MELODIS has created a music search application for mobile devices with features far more advanced than any other solution available today,” said Eum. “We believe the market opportunity for this new music search technology is enormous, and have been providing hands-on business development support as MELODIS opens distribution channels in Japan, Korea and China.”
“To be successful in today’s economy, startup ventures must be global on day one,” said Kamran Elahian, chairman and co-founder, Global Catalyst Partners, which participated in both the MELODIS Series A and Series B financing. “MELODIS understands that international orientation and has positioned their technology and their marketing strategy accordingly. We are very pleased to partner with them in expanding their reach to other countries.”
About TransLink Capital
TransLink Capital is a Palo Alto-based venture capital fund focused on early expansion stage startups in mobile, communications, and digital media. The TransLink team consists of experienced investors with deep connections with many of the leading early adopter customers in Japan, Korea, and Taiwan. Our investment strategy is to partner with top-tier VC firms on high-profile early-stage companies where we can demonstrate our value add by successfully closing Asian strategic partnerships and investing the subsequent rounds. For more information about TransLink Capital, please visit http://www.translinkcapital.com
About Global Catalyst Partners
Global Catalyst Partners is an international, multistage, technology-oriented venture capital firm. Our partners have significant operating experience serving in large public companies as well as building entrepreneurial ventures into major public companies. For more information visit http://www.gc-partners.com
About JAIC America
JAIC America, Inc. is a venture capital firm, the US investment hub of Japan Asia Investment Co., Ltd. (JAIC). Our goal for the 21st Century is to develop a new network that will bridge the US and Asia. For more information visit http://www.jaicamerica.com
About MELODIS Corporation
MELODIS Corporation is building the next generation of search and sound recognition technologies for the Internet, mobility, robotics, security, home entertainment, automobiles and more. With the launch of midomi mobile and www.midomi.com, MELODIS has combined the world’s most powerful music search technologies with social networking, user-generated content and digital content distribution, and has developed the world’s most comprehensive database of searchable music.
Incorporated in September 2005 and headquartered in San Jose, California, MELODIS is backed by leading Silicon Valley investors, including Global Catalyst Partners, TransLink Capital, and JAIC America. For more information, visit http://www.melodis.com
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