DeviceVM Announces Strategic Investment of $10 Million Led by SAP Ventures
New Funding will Expand DeviceVM’s Corporate Business for Existing Mobile PCs and Deliver Splashtop’s Award-Winning Technology on New Mobile Devices
June 2, 2010 – San Jose, CA – DeviceVM, the worldwide leader in instant-on computing, today announced a $10 million strategic investment led by SAP Ventures, a division of SAP AG. Current venture capital investors also participating in the round include Storm Ventures, DFJ Dragon, and New Enterprise Associates (NEA).
“The consumerization of IT is creating new challenges for corporations everywhere,” said Mark Lee, CEO and co-founder of DeviceVM. “Employees want to use their mobile device of choice on the road. This new round, led by SAP Ventures, will accelerate our plans to make this new breed of mobile Internet devices (from netbooks to smartphones) “enterprise-ready” by enabling IT to better support them within existing management and security policies.”
The additional funding will be used to fuel the growth of DeviceVM’s award-winning instant-on platform, Splashtop™, further into the enterprise mobile market. The Splashtop instant-on platform which is pre-installed by most of the major PC vendors on their devices for the mobile enterprise user, addresses the needs of the “road warriors” of an enterprise by integrating Citrix and VMware clients to allow secure, instant access to remote virtualized desktops and applications and thereby reducing the risk of data theft.
“We are excited to lead the investment in DeviceVM to support its growth and expansion to deliver enterprise-class, instant-on platforms for the mobile enterprise markets,” said Jai Das, partner at SAP Ventures. ”Secure remote access to corporate data from multiple devices is paramount to today’s increasingly mobile workforce.”
DeviceVM delivers customized versions of Splashtop for the general mobile worker to support instant connectivity to Outlook email, calendar, contact, and tasks, as well as viewing and editing Microsoft Office 2003, 2007 and 2010 documents. All versions offer instant productivity without the need to boot-up Windows. Vendors shipping these features include Acer, Dell and HP.
DeviceVM expects to be profitable by the end of calendar year 2010.
Splashtop is the award-winning, instant-on platform that improves the personal computing experience. Splashtop enables users to search and surf the Web, access e-mail, and chat with friends seconds after turning on their PCs. Splashtop is currently available on more than 30 million PCs across 400 models of netbooks, notebooks, motherboards, and desktops from leading manufacturers including Acer, ASUS, Dell, HP, Lenovo, LG and Sony. Since its debut in October 2007, Splashtop has received numerous awards, including the prestigious “Most Innovative Product” award from PC World, the “Best of What’s New” award from Popular Science, and “Best of 2010 CES” award from Laptop Magazine. For more information, visit http://www.splashtop.com
About SAP Ventures
SAP Ventures invests in innovative and disruptive software and services companies globally. We pursue opportunities across all stages for outstanding financial return. Our goal is to bring substantial benefit to all parties by facilitating interaction between portfolio companies and SAP and its ecosystem of customers and partners. SAP Ventures has a successful track record of building industry-leading companies by partnering with outstanding entrepreneurs and top-tier venture capital firms since 1996. For more information, visit www.sapventures.com.
DeviceVM, Inc. is a privately held software company, selected by Dow Jones as one of the top 50 companies to watch. With its instant-on Splashtop product, DeviceVM is improving the every-day experience of computer users. Founded in 2006, DeviceVM is headquartered in Silicon Valley with offices in Beijing, Hangzhou, Shanghai, and Taipei.
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