Ubicom Grabs $16.9M

Mayfield leads $16.9M investment in Ubicom; Janice Roberts to join board

April 23, 2002

1 Min Read

MOUNTAIN VIEW, Calif. -- Ubicom, Inc., a provider of Internet-edge processor and software platforms for ubiquitous communications, announced today it has secured $16.9 million in Series D funding, led by high-profile Silicon Valley venture capital firm, Mayfield, with participation by existing investors. Ubicom also announced that Janice Roberts, general partner, Mayfield and former senior vice president, 3Com Corporation, has joined its Board of Directors. Ubicom plans to use the added funds to expand its existing product line, ramp production and enter new markets. In addition, the funding will be used to finalize the development of Ubicom's next-generation processor -- the basis for an entirely new class of Internet-edge platforms designed to further extend the reaches of the Internet. Ubicom expects the funding to last through profitability, which is planned for the end of 2002. "The current boom in worldwide wireless connectivity is clear evidence that Internet and network access are extending to all devices, everywhere, " said Janice Roberts, general partner, Mayfield. "Ubicom is playing a critical role in driving this trend, through ground-breaking technologies that will enable all devices and computing platforms to be connected to each other -- securely, cost-effectively and transparently. The company's sweeping vision in a rapidly growing market, combined with patented technologies and strong operational management, make them an ideal investment." Ubicom Inc. Mayfield Fund

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