SOURCE: Roundbox, Inc.

December 15, 2008 08:00 ET

Roundbox Secures Over $20 Million in Series C Financing

FLORHAM PARK, NJ--(Marketwire - December 15, 2008) - Roundbox, Inc., the leader in mobile broadcast software, today announced it secured over $20 million in financing in a round that reflects an increase in shareholder value. Montagu Newhall Associates led the financing round with additional funding from existing investors Core Capital Partners, Polaris Venture Partners, and RRE Ventures. The round also closed with an investment from strategic investor ITOCHU Techno-Solutions Corporation (CTC), a leader in advanced IT solutions and outsource services based in Japan. Along with the equity investment, Silicon Valley Bank has provided venture debt financing. The company will use the funding to enhance and extend their position in the mobile broadcast market with key investments in the areas of product development and customer delivery.

"Roundbox has proven to be a leader in enabling the delivery of mobile broadcast services. We are delighted to join the Roundbox team, and excited about the company's momentum and position in the market," said Jim Lim, general partner at Montagu Newhall Associates.

"Roundbox and CTC share a common vision for mobile broadcast in Japan," said Junichi Maruta, general manager of telecom systems planning division at CTC. "Together we have successfully delivered mobile broadcast demonstrations for KDDI and other service providers. This investment reinforces our commitment to Roundbox and this partnership."

"In these economically challenging times, those companies who can advance and forge ahead will be the leaders in the markets they serve," said Roundbox co-founder and CEO Dennis Specht. "With this strong syndicate and round, we will continue to work with our investors, customers, and partners to execute on our long-term vision and build a market-leading company."

About Core Capital

Core Capital is a $320 million private equity fund that provides capital to both early stage technology ventures and small- to mid-sized growth companies where technology is a driver of change in the business or sector. The common thread is that these companies are developing or incorporating disruptive technologies into their businesses. We focus principally on the kinds of "core" or fundamental technologies that enable or enhance information, data and communication. We are headquartered in Washington, D.C. and most of our investments are made on the East Coast.

About ITOCHU Techno-Solutions Corporation (CTC)

Established in 1972, ITOCHU Techno-Solutions Corporation (CTC) provides advanced IT solutions and offers various outsourcing services, such as operations by its own data centers. CTC supports such market segments as telecommunications, broadcasting, finance, retail, distribution, manufacturing, education, government, medicine, pharmaceutical, chemicals and apparel. CTC has formed partnerships with more than 200 leading IT companies from nine countries. These partnerships range from those with global multinational IT companies to those with highly focused venture businesses. Around 6,500 people work for CTC throughout Japan, and our service edge lies in offering one-stop 7 x 24 support in approximately 100 service centers.

About Montagu Newhall Associates

Montagu Newhall Associates, founded in 2000, manages four venture capital funds with a combined total of over $900 million in committed capital. Investors in these partnerships, which include family offices, corporate pension funds, endowments, foundations and other venture capitalists, are provided access to diversified portfolios of top-tier venture capital funds and a select number of high quality, later-stage, direct venture capital investments. The Montagu Newhall Associates team leverages its substantial network, relationships and investment experience to provide a superior venture capital product to its investors. For more information, visit

About Polaris Ventures

Established in 1996, with offices in Waltham and Seattle, Polaris has over $3 billion under management. Polaris Venture Partners have helped build numerous market leading companies, including Accordant Health Services, Advanced Inhalation Research, Akamai Technologies, Allaire, Alnylam Pharmaceuticals, American Superconductor, Aspect Medical Systems, Avici Systems, Centra Software, Classifieds2000, deCODE genetics,, Matrics, Microbia, Momenta Pharmaceuticals, Paradigm Genetics, Powersoft, PSCI, SolidWorks and TransForm Pharmaceuticals.

About RRE

New York-based RRE Ventures, founded in 1994 by Jim Robinson III, Jim Robinson IV and Stuart Ellman, invests in entrepreneurial technology companies placing special emphasis on e-commerce, software, communications and related enterprises that can become industry leaders in rapidly growing markets. With $600 million under management, RRE combines significant capital resources with a proven track record of successful managerial, financial and technical experience, in addition to corporate contacts that create value for its portfolio companies.

About SVB Financial Group

For 25 years, SVB Financial Group and its subsidiaries, including Silicon Valley Bank, have been dedicated to helping entrepreneurs succeed. SVB Financial Group is a financial holding company that serves emerging growth and mature companies in the technology, life science, private equity and premium wine industries. Offering diversified financial services through Silicon Valley Bank, SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services, SVB Financial Group provides clients with commercial, investment, international and private banking services. The Company also offers funds management, broker-dealer transactions, asset management and a full range of services for private equity companies, as well as the added value of its knowledge and networks worldwide. Headquartered in Santa Clara, Calif., SVB Financial Group operates through 27 offices in the U.S. and five internationally. More information on the Company can be found at

About Roundbox

Roundbox is the leading provider of mobile broadcast software solutions for mobile operators and handset manufacturers. Their products enable mobile operators to provide consumers innovative services that take advantage of next generation broadcast networks. Roundbox's product innovations help operators provide consumers with services such as mobile TV, emergency notification, radio, and data services delivered continuously and with breakthrough economics. For more information, visit

Roundbox is a registered trademark in the United States. All other trademarks are the property of their respective owners.

Contact Information

  • Roundbox contact:
    Deb Disbrow
    Mobile: +1 201.213.5190
    Office: +1 973.210.8620