Quickoffice Secures $11.5 Million in Private Funding and Expands Internationally
Established investors back smartphone software leader to take advantage of the fast-growing mobile application market
Dallas, Texas – January 17, 2006 – Quickoffice®, Inc., a world leader in providing mobile office document software for smartphones, today announced the final closing of its $11.5 million private equity financing led by Silicon Valley venture firm Mayfield Fund® with participation by Shepherd Ventures and Advantage Capital Partners.
“Mayfield is very focused on the mobile sector and we believe that Quickoffice is poised for a very strong future. Already they have secured strong commercial and strategic relationships with global brands such as Nokia and Sony-Ericsson,” said Janice Roberts, managing director of Mayfield.
Shepherd Ventures participated alongside Mayfield in this final closing. Tom Siegel, managing director of Shepherd Ventures, will join Quickoffice’s board of directors. With more than 20 years of experience in venture capital, entrepreneurial ventures and management consulting, Siegel will help advise Quickoffice in its future strategy.
“We are delighted to invest alongside Mayfield because we are convinced that Quickoffice is well-positioned for explosive growth in the mobile document management sector,” said Tom Siegel. “As a board member, I intend to use my experience to help Quickoffice gain further market traction and brand awareness.”
Quickoffice is led by former Palm COO , Barry Cottle. Quickoffice will use the latest financing to fund its growth, focusing on investments in product development and sales and marketing. The company is expanding internationally, opening a London, England office in Q1, 2006 to be closer to Symbian’s London headquarters as well as several of the company’s other important international customers. The company’s London office will focus on Symbian software development as well as business development.
“Attracting significant funding from tier one venture firms is a testament to Quickoffice’s market leadership, vision and growth opportunity,” said Alan Masarek, president and CFO of Quickoffice. “Our efforts are continuing to pay off as we have become the worldwide leader in mobile document management.”
Based on its significant contributions to driving innovation in the mobility industry, Quickoffice was recently named Nokia’s Developer of The Year for 2005 in the first ever Forum Nokia Pro Award category. In addition, the company was recently honored as a member of Forum Nokia Pro’s Enterprise Zone which spotlights enterprise development for mobile business applications. The company’s inclusion in the Enterprise Zone is notable based on the elite nature of its high-end enterprise centric members.
To learn more about Quickoffice, please visit www.quickoffice.com.