Orative raises $12M for product launch
By siliconindia staff writer   |   Tuesday, 13 July 2004, 19:30 IST
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SAN JOSE: Orative Corp., a mobile telephony software company, has raised $12 million in its second round of funding as it prepares to launch its first product later this year. The round was led by new investor Trinity Ventures, while existing investors Mayfield and Diamondhead Ventures also took their pro rata share. The funds will be used to finalize development of the company's product and to launch it toward the end of this year. Paul Fulton, president and chief executive of Orative, said the company had originally planned to raise the round later in the year. Based on interest from venture firms, the company decided to begin raising the round in April. Fulton said the company's goal was to raise $10 million. Fulton said it was very much an "up" round that should take the company to profitability. Since its inception in December 2002, Orative has raised $18 million. In conjunction with the financing, Fred Wang, general partner at Trinity Ventures, has joined Orative's board, which also includes Fulton; David Ladd, managing director at Mayfield; and Raman Khanna, general partner and managing director at Diamondhead Ventures. Orative began trials with its mobile telephony application software in February. The software is designed to improve the functionality of mobile voice communications. Fulton said the software allows enterprise users to filter unwanted phone calls and eliminate the "phone tag" of leaving continuous messages. Features of the software include enhanced access to company directories and control over availability and call screening. In April, the company acquired the assets of Bonita Software, a defunct wireless technology start-up. Fulton said the company is continuing to look at opportunities as they arise, but would not comment on whether Orative has any merger and acquisition deals in its pipeline. Last year, Orative raised $6 million in a Series A round from Mayfield and Diamondhead Ventures. The San Jose-based company has 25 employees.

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