Digital home content and services provider Casabi secures $10M in Series B funding

March 13, 2007

1 Min Read

CAMPBELL, Calif. -- Casabi Inc., an emerging digital home content and services provider, today announced that it had raised $10 million in Series B financing for the Company. The Series B financing is led by Canaan Partners with pro-rata contribution from Mayfield Fund and Vanguard Ventures, Casabi's Series A investors.

"We are excited to welcome Canaan Partners to the Casabi family," said Neville Street, CEO of Casabi. "Their investment in Casabi represents a strong endorsement for the Casabi strategy and team and sets us up to drive our solution into the market working closely with our partners." "Casabi has created a single and seamless infrastructure for delivering web access, targeted advertising and content to home electronics, starting with the cordless telephone," said John Balen, General Partner of Canaan Partners. "We strongly believe in their innovative technology, vision and team."

Casabi will leverage this new round of funding to increase the number of Casabi-enabled devices in the market by expanding the range of device partners and technology platforms that the Company supports. In addition, Casabi will expand the services available through its platform to create greater value for the end-user, thereby creating increased opportunities for monetization by Casabi and its partners.

Casabi Inc.

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