CIT GAP Funds Invests in Uppidy Inc.

Text message sharing and storage for smart phones

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CIT GAP Funds

Center for Innovative Technology GAP Funds

Herndon, VA (PRWEB) October 09, 2012

The Center for Innovative Technology (CIT) announced today a $50,000 investment in Reston, Va.-based Uppidy Inc., a mobile sharing, search and storage technology company focusing on bringing new core functionality to any mobile device’s native short message service (SMS)/text application.

Uppidy’s service enables end-users to store, manage, share and search individual text and SMS messages on Uppidy.com. Currently, text messages are not transferable or accessible outside the mobile device of origin and are usually erased if the device is lost, broken or replaced. With Uppidy, text messages can be stored, archived, searched and published to social media outlets without toggling between applications. The service combines popular features from Google, Twitter and Facebook by integrating publishing, geolocation, search and cloud-based storage capabilities to present a seamless experience for the user.

CIT President and CEO Pete Jobse said, “As mobile technologies become more engrained in our lives, this marketplace offers great opportunities. Our investment in Uppidy indicates our confidence in the team, the strategy and the technology, all of which has positioned the company for solid growth.”

Unlike most mobile applications, Uppidy sits in the “background” of the device, going unnoticed by users and allows an administrator to scan across more than one device in real-time for content. Uppidy allows users to publish and store their text messages free of charge, but a premium subscription is available for advanced features such as increased storage, multiple device support, premier status, desktop publishing and reporting.

Uppidy CEO Josh Konowe said, “Uppidy was founded in 2011 to better manage SMS/text messages by leveraging the existing architecture of the native text platforms on smart phones. Our company continues to grow and with the support from CIT GAP Funds, we will be able to further expand our technical capabilities for our users.”

Tom Weithman, CIT Vice President and GAP Funds Managing Director, said, “Although there are signs of economic improvement, entrepreneurs like John Konowe are still finding it difficult to access seed-stage funding. CIT GAP Funds fills that void with a proven public-private leveraged investment model that is creating 21st century companies and jobs throughout the Commonwealth.”

Since its 2005 launch, CIT GAP Funds has placed over 70 investments across the Commonwealth, deploying greater than $6 million of public funds and attracting over $80 million more in private funding. For a list of portfolio companies, please visit the GAP Funds website.

Learn more about Uppidy Inc. by visiting their website.

About the Center for Innovative Technology, http://www.cit.org
CIT is a nonprofit corporation that accelerates the next generation of technology and technology companies. CIT creates new technology companies through capital formation, market development and revenue generation services. To facilitate national innovation leadership and accelerate the rate of technology adoption, CIT creates partnerships between innovative technology startup companies and advanced technology consumers.

About the CIT GAP Funds, http://www.citgapfunds.org
CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel consists of leading regional entrepreneurs, angel and strategic investors, and venture capital firms such as: New Enterprise Associates, Grotech Ventures, Valhalla Partners, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Clinic, Johnson & Johnson, General Electric and Alpha Natural Resources.

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