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

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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.

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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

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 http://www.flypaper.com.

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