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Latest Funding Demonstrates Strong Support for Company and Fuels Commercial Rollout
Sezmi Corporation
Barbara Cassidy, 650-631-7100
or
A&R Edelman
Jody Farrar, 650-762-2925
Logo: http://www.sezmi.com
Sezmi Corporation, creator of the first complete personal TV system, today announced that it has secured $33 million of additional financing. This amount includes new investments from Advanced Equities, Inc. and others, and follow-on investments from previous investors: Morgenthaler Ventures, Omni Capital Group, TD Fund, and Legend Ventures.
"This round of funding enables us to put the final touches on product development and testing, and bring the Sezmi service to market," said Buno Pati, co-founder and CEO of Sezmi. "We are pleased to welcome our new investors and would like to thank our previous investors for their ongoing support."
"Sezmi has a strong plan and has established a unique position in the market," said Bob Pavey, general partner of Morgenthaler Ventures. "Sezmi has demonstrated not only the viability of its offering, but also its ability to reach milestones as set forth in its plan. We strongly believe in Sezmi and its management team; this funding reflects our enthusiasm for the opportunity to contribute to Sezmi's growth."
Keith Daubenspeck, chairman of Advanced Equities, added, "This infusion of $33 million of additional capital reflects the strength of Sezmi's business plan and product offering despite the troubled economic climate. It is a rare accomplishment these days to attract this kind of attention and funding."
Sezmi has redefined TV with the first personal television system in the market. It is a true alternative to the legacy TV experience with a line-up of content from traditional broadcast networks, cable and specialty networks, internet video, pay-per-view movies, and more. It not only enhances the on-demand experience, but it stands out from traditional television offerings with a highly personalized, intuitive user experience at an affordable cost.
"The demand from consumers for an affordable and personalized television experience continues to increase," said Phil Wiser, Sezmi's co-founder and president. "In fact, we hear from consumers every day that they are looking for an alternative to meet these needs and that they are eagerly awaiting Sezmi. It is very gratifying that our vision is validated not just by consumers, but also by the investment community."
About Sezmi
Sezmi Corporation has developed the first complete personal TV offering by combining traditional TV content, movies and internet video in a single easy-to-use product. Designed from the ground up with next generation TV functionality, Sezmi puts consumers in total control with a personalized on-demand viewing experience. Sezmi is working with partners from broadcast, broadband, content and advertising industries to create a new TV choice for consumers. Sezmi is now in trials and will be commercially available to U.S. consumers through broadband providers and national retailers in 2009. For more information, visit www.sezmi.com.
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