Echovox closes a $7.5m investment round from Advent Venture Partners

** Funding to reinforce Echovox’s leading position in Mobile Media and accelerate the development of Zong, the Internet gateway to the mobile world  **

 

Barcelona, 3GSM 2007 - 12th February 2007:  Advent Venture Partners (“Advent Ventures”), a leading European Venture Capital firm, has today announced the closing of a $7.5m investment in Echovox, a leading mobile media solutions provider.

 

“We are pleased to support Echovox and its exceptional management team, and this growth equity investment fits extremely well with our investment strategy. We have been tracking the company over the past few years and have been impressed by its performance, establishing Echovox as a leading mobile solutions provider for media companies in Europe. Moreover, the launch of Zong creates a global disruption opportunity for the company by connecting the worlds of Internet and Mobility in a unique manner.” said Frédéric Court, Partner at Advent Ventures. “We believe that Zong has the potential to scale rapidly, by enabling consumers, businesses and communities to easily create and launch revenue-generating mobile services via a simple web interface.”

 

Since its creation in 2000, Echovox has pioneered the development of Mobile Media by enabling Europe’s largest media groups to execute their strategic diversification in mobile content and services. By delivering packaged mobile content, entertainment and advertising solutions, Echovox powers each day millions of revenue-generating transactions for TVs, radios and press companies across Europe. Echovox latest innovation, Zong, is the only self-service, free and fully-automated Internet gateway to mobile. Zong combines the ease of use and scalability of the Internet with the monetization tools of premium mobile services.

 

“We’re excited to welcome Advent Ventures in Echovox and to leverage its extensive experience, network and web know-how to significantly accelerate our growth and further internationalise our activities in the coming months,” said David Marcus, Founder and CEO of Echovox. “We will use the funding to reinforce our leading position in mobile media and to focus significant resources to make Zong the world-leading bridge between the Mobile and Internet worlds.”

 

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About Advent Ventures: Advent Ventures is one of the most experienced technology venture capital firms in Europe. Established in 1981 in the UK, it invests in both the Information and Communications Technology (“ICT”) and Life Sciences sectors.  Advent Ventures has over £500 million under management from institutional investors across Europe and the USA. ICT investments include UbiquiSys (fixed-mobile convergence technology), Snell & Wilcox (leading digital media infrastructure technology supplier), BridgeCo (Silicon for digital media home networking) and Qype (local search and user-generated city guide).

 

About Echovox: Echovox is a Mobile Media pioneer. The company was founded in 2000 and since then has built a unique infrastructure connecting to over 50 mobile operators enabling mobile content delivery and billing to half a billion mobile subscribers.

 

Thanks to its end-to-end mobile solution and its unique end-user marketing know-how, Echovox has become the preferred mobility partner for some of the largest media groups. The company provides live interactivity, mobile content, entertainment and storefronts to TV, radio, Internet and press companies across Europe.

 

Echovox is also behind Zong (www.zong.com), the Internet service enabling consumers, businesses and communities to easily create and launch revenue-generating mobile services. Echovox is backed by Newbury Ventures and Advent Venture Partners and is headquartered in Geneva, Switzerland.

 

For more information, please come and see us at 3GSM, Barcelona (Hall 2 level 1 stand C61).

 

 

Press Contacts:

 

Echovox: Karolina Shaw, Text 100 Public Relations. Tel: +44 (0)20 8846 0733, Email: Karolina.shaw@text100.co.uk

 

Advent Ventures: Francesca

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