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The $2.7 million Series B investment will be directed to Pure Matrix's initial product development and sales activities in the burgeoning Mobile Internet marketplace. A subsequent and substantially larger Series C round of investment is anticipated later this year to support full commercial deployment.
Walter Lee, President of AltoTech Ventures (www.altotech.com), based in Palo Alto, CA, commented: "Through its innovative line of products and services, Pure Matrix is poised to play a fundamental role in the growth of the Mobile Internet. Wireless carriers, content providers, end-users and others building this industry all seem likely to benefit tremendously. This far reaching approach, along with the company’s seasoned management team, makes Pure Matrix a highly attractive investment for AltoTech Ventures."
Douglas W. Holbrook, Senior Vice President of Pure Matrix, added: "This new infusion of capital is yet another vote of confidence for Pure Matrix. On behalf of all our investors, Pure Matrix now is well positioned to move forward with products and services designed to significantly increase revenue opportunities from wireless content and data applications, mobile advertising and mobile commerce."
About Pure Matrix: Pure Matrix was founded in 2000 to develop next-generation products and services that move beyond the current first-generation constraints of the "fixed Internet." These products and services are designed to enable the industry to better handle large numbers of mobile communities and location-based services, and to properly address individual customer preferences and demographics.
Pure Matrix is based in Boulder, Colorado, and has begun regional sales operations in North America and Europe. Asian sales efforts will follow. The company is a member of the industry’s WAP (Wireless Application Protocol) Forum. In addition to its investment rounds, Pure Matrix will seek alliances and partnerships with leading companies involved in the applications, distribution, technology and content sectors of the Mobile Internet industry.
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