Flypaper Studio, Inc. Closes $3.5 Million in Venture Capital Funding
Company Will Use Funding to Expand Product Offering and Accelerate
Marketing Activities Behind Popular Rich Media Application
PHOENIX (Business Wire EON/PRWEB ) August 5, 2008 --
Flypaper Studio, Inc., an
innovator of rich media content creation software, today announces the
company has closed $3.5 million in funding. The venture capital round
comes from Sierra Ventures of Menlo Park, California, and SCF Arizona of
Phoenix, Arizona. Both companies contributed to Flypaper Studios’
first round of funding, completed in February 2008, in the total amount
of $3 million.
The company used the first round of funding to launch two products, Flypaper
and Flypaper
Pro. Flypaper is a free rich media application that allows
subscribers to easily create, edit and share interactive
presentations and other content
for live or Web-based delivery. Flypaper Pro is an advanced business
solution that allows subscribers to track viewer statistics and capture
data, host content on any Web site, and add animated, professionally
designed elements. Flypaper
Pro is available as a yearly subscription of $195 per year. This
next funding round will allow the company to expand marketing efforts,
as well as develop more products and add-on features including an
enterprise-focused application that includes CRM
integration.
“We’ve watched the
tremendous market response to this company and their products over the
last six months and are thrilled to continue investing with Flypaper,”
commented David Schwab, managing director at Sierra Ventures. “Flypaper
provides the communication applications that businesses need to really
sell their story in this Web 2.0 world. The market
response to Flypaper’s first two products
tells us this company will continue to thrive.”
Duane Miller, chief business development officer for SCF Arizona, goes
on to say, "Flypaper Studio took the market by storm last year when they
presented their flagship product at the prestigious DEMO conference and
Invest Southwest, winning awards at both. Highly innovative companies
with a winning management team do come out of places other than Silicon
Valley, and Flypaper is the perfect example."
Flypaper was launched in beta at the exclusive DEMO 2008 Conference,
held in January. The company took home a coveted “DEMOgod”
award, which recognizes the top new products from the conference. The
company also won the Invest Southwest Capital Conference in December
2007. In July 2008, the company launched Flypaper
Pro and announced the general availability of Flypaper.
Flypaper brings a seasoned team of executives in the software
industry, including veteran software entrepreneur Pat Sullivan as
chief executive officer. Sullivan’s
background includes starting and leading many successful software
companies such as ACT!® and
SalesLogix® CRM. The
proven Flypaper management team is rounded out by veteran entrepreneur
and Flypaper founder Don Pierson, chief content officer; successful
technology executive and former general manager of ACT! and co-founder
of SalesLogix Greg Head, chief marketing officer; former co-founder and
vice president of development of SalesLogix Sunil Padiyar, chief
technology officer; Pat Stoner, chief financial officer, who was the
former president of Omega Legal Systems and Learning-Edge; and Brandon
Zeuner, executive vice president of sales, who was the former director
of key accounts at SalesLogix.
About Flypaper Studio, Inc.
Flypaper Studio, Inc. is a Phoenix-based technology innovator focused on
revolutionizing the way people sell and communicate on the Web. Flypaper
allows users to produce high-impact presentations and other Web content
that rivals the interactivity and quality of custom Flash development,
but without requiring design or programming skills. Users can download
the free application, or purchase a subscription to Flypaper Pro
right from the Web site, and access an endless variety of professionally
designed, Web-ready templates and sample content that can be quickly
customized and immediately published to any Web site - including
YouTube, Facebook and others. To learn more and to download the free
Flypaper software, visit www.flypaper.com.
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