Colibria successfully raises NOK 29 million
Northzone Ventures and Four Seasons Venture invest in the Norwegian software vendor Colibria AS.(Oslo 20.04.2001)The Norwegian software vendor Colibria has completed a share issue of NOK 29 million. The company has thereby secured the necessary funding for its ambitious international roll-out.
The Norwegian venture companies Northzone Ventures and Four Seasons Venture have underwritten the share issue, Northzone thereby raising its stake from the position it took in the company in May 2000. After the recent offering, Four Seasons and Northzone own 15% and 35% of the company respectively. Aspiro AB and the employees own the remainder of the shares.
- We have chosen to raise our stake in Colibria on the basis of the company s achievements so far, its exciting products as well as the favourable reception the company has received internationally, says Jørgen Bladh, Chair of Colibria and Partner of Northzone Ventures.
- We see a large potential for Colibria due to the employees long experience in the mobile sector in addition to their focus on the development of solutions to increase the profitability of the customers, says Partner Knut Frigaard in Four Seasons Venture.
Since the establishment of the company in February 2000 Colibria has grown to a total of 55 employees and has built a development centre in the Philippines. The software vendor offers products for mobile operators in Europe, with its main emphasis on SMS and mobile Internet.
Colibria develops solutions for communication between cellphone users using the current as well as the next generation of mobile networks, GPRS and UMTS. Included in the product portfolio are Instant Messaging and Mobile Chat. Instant Messaging and Chat are highly successful internet services applications. Colibria s products make these services available even from mobile phones and PDAs. The users can send messages to each another and see the status of other mobile users: Whether they are logged on, what they do etc. A user may access the services from a PC, using SMS or a WAP-phone.
Colibria s applications enable groups of friends, companies or other communities with a common interest to create virtual meeting places. At these meetingplaces the customers may share calendars, publish news, create discussion groups or undertake votes. This is possible from a PC as well as a mobile phone.
- With the help of our services mobile internet is made more personal, relevant and closer to the user, says Oddleif Westby, CEO of Colibria. We are most happy to get an experienced partner such as Four Seasons Venture on board as an owner. At the same time we are pleased that Northzone has chosen to expand their engagement in Colibria. They have already contributed a lot to our development. The share issue makes it possible for us to direct our efforts beyond the Scandinavian market and position ourselves as an international software vendor providing solutions for the mobile phones of today as well as the future.
For more information, please contact:
· Oddleif Westby, Colibria AS, CEO, +47-909 73 523, [email protected]
· Jørgen Bladh, Northzone Ventures, Partner, +46-707 30 7050, [email protected]
· Knut Frigaard, Four Seasons Venture, Partner, +47 901 86 789, [email protected]
Northzone Ventures (previously Venture Partners) was established in 1995, and is today a significant long-term investor in Nordic start-ups. Northzone Ventures is an early stage Venture Capital company providing financing to companies primarily in the Nordic market. The investment focus is within the converging space of Internet, Telecom, Software and Services.
Four Seasons Venture
Four Seasons Venture was established in 1985 and is one of the oldest and largest venture funds in Norway focusing on investments within the Internet, Telecom and general technology sectors. Four Seasons Venture invests in young growth companies in Northern Europe. Four Seasons Venture has a total of 3 funds with NOK 830 mill. currently under management.
With 16 years of investment experience in high growth technology companies Four Seasons Venture is offering management important advice and support in all key areas critical to success in the international market place, including a valuable network of business contacts. Four Seasons Venture is affiliated to Advent Int., and cooperates closely with Advent s technology group in London, Boston and Silicon Valley.
Colibria is a leading software vendor focusing on solutions for SMS and mobile internet. The company s 55 employees, located at the HQ in Oslo and the subsidiary in the Philippines, have long experience in mobile communications both from suppliers and operators.