SOURCE: Frame Media, Inc.

May 07, 2008 08:53 ET

Frame Media Receives an Additional $3 Million in Funding

New Funding Will Enhance Product Development and Expand Opportunity for the Fourth Screen in the Home

BOSTON, MA--(Marketwire - May 7, 2008) - Frame Media, Inc. (www.framemedia.com), the leading platform provider for the delivery of personalized content to wireless digital picture frames, today announced it has secured an additional $3 million in funding, bringing its total paid in capital to $5.2 million. Funding was co-led by Longworth Venture Partners and CommonAngels. Frame Media's board includes new media luminaries Thomas Burgess, founder of Third Screen Media, and Mike DiFranza, president and founder of Captivate Network.

Frame Media's web-services platform, FrameChannel (www.framechannel.com), enables frame owners to program the delivery of personalized content to their wireless picture frames, combining their own personal media with content from the FrameChannel library of over 400 channels that include news, weather, sports, traffic and image collections. In addition, FrameChannel users can access content on their frames from popular photo sharing sites, social networks and RSS feeds and share content with friends who have a FrameChannel capable device. "FrameChannel's mission is to deliver the content you want when you want it to any connected device," said Jon Finegold, co-founder and Chief Operating Officer of Frame Media. "Today those devices are wireless picture frames but we will quickly see devices in many forms and FrameChannel is designed to work with all types of connected gadgets." FrameChannel is compatible today with wireless frames from Samsung, PhotoVu, Digital Spectrum and iMate and will power the delivery of web content to the D-Link wireless frames that will be available from retailers this June. The company will announce additional partners in time for the holiday season of 2008.

Frame Media will use the capital to advance its position as the leading Web platform for management of content to wireless digital photo frames and other connected gadgets. According to IDC, "The 2.8 million digital frames sold in 2006 are predicted to grow to 42.3 million units by 2011, and most of these frames will be Wi-Fi enabled."

"These devices are being sold as photo frames today but will quickly evolve into dynamic information appliances," said Alan Phillips, co-founder and CEO of Frame Media. "The next generation frames will include multimedia capabilities and on demand content where you can get your local weather or sports highlights with the touch of the screen. Think of it as an iPhone on your wall."

"Brands are looking for new ways to reach consumers in their homes," said Tom Burgess, Frame Media board member and founder of Third Screen Media, now part of AOL. "The FrameChannel content delivery network enables a new form of context sensitive advertising in the home. The fourth screen is here."

EXECUTIVE BIOGRAPHIES

Jim Savage, Partner of Longworth Venture Partners and Member of Frame Media Board

Before Longworth, Jim Savage spent 20 years successfully developing, launching, and managing early stage software and media companies. As CEO of PlanetAll, Inc., a pioneering social networking service, Jim directed the company from its early venture-funding phase through its successful acquisition by Amazon.com. Previously, Jim was the founding General Manager of ZDNet, the Web's leading IT Media Company, acquired by CNET for $1.3 billion. Before ZDNet, Jim was an Executive Vice President at Simon & Schuster/Prentice Hall, where he directed the online publishing activities of its legal publishing division. Jim started his career managing digital media initiatives at McGraw-Hill. Jim represents Longworth on the boards of directors of Scrapblog and Voxant. In addition, he serves on the boards of the Massachusetts Innovation & Technology Exchange (MITX) and Boston's Museum of Science. Jim graduated from Harvard University.

Thomas Burgess, Founder and former CEO of Third Screen Media, Member of Frame Media Board

Prior to its sale to AOL, Thomas Burgess was Founder and Chief Executive Officer of Third Screen Media. His responsibilities included leading the senior management team with particular focus on the company's overall business development, marketing and sales strategy. Prior to Third Screen Media, he served as President of Internet portal CollegeLink.com, Incorporated, purchased by Monster.com early in 2001. Prior to that, he served as CEO of 9th Square, Inc. (currently Bluestreak.com, Inc.), an Internet e-commerce and advertising software and services company that he co-founded, angel financed and guided through successful initial product development and market launch. Before that, Mr. Burgess held senior management and sales positions in the interactive marketing and telecommunications industries. Mr. Burgess has a BA from Providence College.

Mike DiFranza, President and founder of Captivate Network

Mike DiFranza serves as president and is the founder of Captivate Network, the national news and entertainment network that delivers quality programming and advertising to a highly desirable and targeted audience during the workday. As a pioneer in the out of home video advertising market, Mike identified the shifting media consumption habits of consumers and the growing need for marketers to reach these consumers in the daily flow of their lives. Mike led the sale of Captivate to Gannett in 2004. Prior to founding Captivate, Mike served as the director for the Eastern U.S., Canadian and Latin American Business Units for Mentor Graphics. In that role, he supported the development of underlying technology for the media and telecommunications industries. Prior to his position with Mentor, Mike held various positions with Metheus Corporation and GCA Corporation. Mike holds a B.S. degree in Engineering and Computer Science from Northeastern University and is a graduate of the Harvard Business School's Program for Management Development.

ABOUT FRAME MEDIA, INC.

Frame Media is the leading platform provider for content delivery to wireless digital picture frames and connected gadgets. Its flagship product, FrameChannel, can be branded and tightly integrated to work with any Wi-Fi enabled photo frame or connected gadget, transforming these devices into dynamic information appliances. With FrameChannel, a frame owner can program a unique stream of content that is updated dynamically, marrying their own photos with fresh content from a library of hundreds of channels including news, sports, weather, traffic, stock quotes, horoscopes and imagery from leading photographic collections. For more information please visit www.framemedia.com. Frame Media can be reached at info@framemedia.com or 718-235-3006.

Contact Information

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    SHIFT Communications
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