|Everypath Announces $60 Million In Investment Funding:|
Everypath Announces $60 Million in Investment Funding
- Investments by Amerindo, Texas Pacific Group, Wasserstein Perella, D.B. Alex Brown, E*TRADE Group, Robertson Stephens, Dain Rauscher Wessels, WR Hambrecht, Liberate, Comdisco, and Others Position Company For Rapid Market Expansion -
Santa Clara, CA — August 9, 2000 — Everypath™, the largest provider of wireless content infrastructure technology today announced $60 million in Series C funding. The total raised by Everypath to date is now $76 million. Everypath mobilizes corporate enterprise and web-based business web sites and databases for interaction with any Internet appliance or wireless device (such as Palm VIIs, two-way pagers, “Web-ready” or “Smart” phones, Interactive television and even ordinary voice phones).
Everypath was named one of the top 25 Business to Business Internet companies by Forbes Magazine in the Computer and Electronics category and was honored as “Investors Choice” at the prestigious Technology Outlook, Technologic Partners' pervasive computing conference. Everypath has more than 50 key partners and customers and has enabled wireless web site access for industry leaders like E*TRADE, PlanetRx, Paytrust, Salesforce.com and Egghead.com. Everypath has developed many significant strategic partnerships that include Internet infrastructure leaders like Sun, iPlanet, Hewlett-Packard, Ericsson, TANTAU and Engage.
“These are some of the market’s savviest investors and this kind of sizeable investment from them is a clear indication that we are viewed as a market leader,” said Venktesh Shukla, CEO of Everypath, Inc.
Amerindo Investments led the financing. Additional funding has come from Ignition Corp., a prominent new wireless Internet fund started by former Microsoft executive Brad Silverberg. Other investors include E*TRADE, Raza Ventures (lead by Atiq Raza, former President of AMD), Texas Pacific Group, Redwood Ventures, Robertson Stephens, D.B. Alex Brown, Dain Rauscher Wessels, WR Hambrecht , Asia Tech Management, Liberate, Comdisco and Wasserstein Perella Ventures.
The Smart Way To Go Wireless
Everypath has developed the smartest solution to the challenge of delivering existing web site content for mobile interaction with a host of access devices. Everypath also enables web sites to be delivered on ordinary voice telephones by voice-enabling them so that they can respond to commands and convert text to speech, potentially opening the market for web services to 1.5 billion telephone users.
Everypath’s core technology makes it easy to translate the information from any existing web site to any current or future web-enabled device – ordinary voice telephones, the data screens of wireless PDAs like the Palm VII, WAP-based “Web Ready” or “Smart” phones, Research In Motion 2-way pagers, and even interactive television with partner Liberate.
Everypath acts as an ASP (application service provider) so customers may manage their application – not the complex challenge of translating it to every new device that emerges. Everypath’s patent-pending technology does not require changes to the web site’s existing architecture or infrastructure.
Everypath’s competitors’ “solutions” range from software tool kits that require web businesses to extensively reprogram their sites and host separate versions of their web site for each device they want to support, to “dumb translation” technologies that cannot handle complex, transaction-oriented content. None provides the user flexibility found with the Everypath Intelligent Rendering™ Solution.
And unlike competing solutions, Everypath works for wireless, broadband, and voice – so a single web site can be simultaneously translated and “broadcast” to mobile devices and voice telephones and even the user’s living room.
The Race to Develop the Mobile Frontier
The race is on to develop the extended, mobile web – the next untapped Internet frontier. PDA makers like Palm are developing new small devices that can access the web on the go. Wireless phone manufacturers are rushing to create cell phones with tiny web display screens. Pagers like the new Blackberry can receive stock quotes and breaking news. Wireless networks that can transmit Internet data are emerging. Software giants are racing to take the lead in the WAP (wireless application protocol) browser race. The challenge of translating web site content that was developed for the 17” color monitor on a personal computer to the tiny black and white screens of these new devices is not trivial. Everypath is leading the way.
Explosive Future Market Potential
The future market for mobile web access is enormous. In addition to the 1.5 billion voice phones currently in use, 18.5 million units of Information Appliances will ship in 2001, vs. only 15.7 million PCs. According to mobile phone maker Ericsson, 400 million users of mobile phone subscribers are predicted to use these devices to access the web by 2003.
The Everypath service creates a bridge between the Internet access devices of today and the future of Internet appliances, from set top boxes and game machine to the Internet-enabled wristwatch or microwave oven. No matter what size or shape the display screen on an Internet device, or what operating system the device uses, Everypath sets a standard that will enable a single source of web content to be displayed on all devices.
About Everypath, Inc.
Everypath delivers the web's most popular transactional content and applications in real time to the widest array of wireless and voice devices such as Palm VIIs, two-way pagers, “Web-ready” and “Smart” phones, Interactive television, and even ordinary voice telephones. The company's patent-pending technology enables customers to maintain a single infrastructure regardless of what device their end users choose to access information now - or in the future. Any application or information that can be accessed with a PC browser can be rapidly enabled for multiple devices with unmatched security, reliability, and scalability, in a matter of weeks, not months. This includes public web sites, corporate Intranets, and Enterprise applications. Privately held, Everypath has more than 50 customers and partners, including E*TRADE, Egghead, Engage, Ericsson, Hewlett-Packard, Paytrust, PlanetRx, Salesforce.com, Sun, iPlanet, Checkpoint, UpShot.com and Visto. Everypath is headquartered in Santa Clara, CA and employs over 160, with offices in Boston, Dallas, Detroit, San Diego, Washington DC; Hyderabad, India; Munich, Germany; and London, UK. For more information, please call (800) 355-1068 or visit us at www.everypath.com.