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Rajesh Reddy founded July Systems raises $7 Million

By SiliconIndia | Sunday, 07 March 2010, 22:04 Hrs

Bangalore: Santa Clara, California based July Systems, a provider of integrated mobile internet publishing and monetization solutions for the media entertainment and sports segment, has secured a new $7 million Series C investment. The investment round was led by Intel Capital, with existing investor Sequoia Capital and Footprint Ventures participating. However, details of the investment instrument were not disclosed.

"We chose to raise this new round of funding to further strengthen our market leadership by investing in technology, operations and bolstering our team. In addition, we will also focus on driving incremental revenues into our ecosystem through July-led programs. We are pleased to have attracted funding from Intel Capital, and to continue our relationship with Sequoia Capital and Footprint Ventures," said Rajesh T.S Reddy, Founder and CEO, July Systems.

Founded in 2001, July Systems helps brands publish, distribute and monetise their mobile internet services. July Systems has experienced strong growth over the past year, achieving 300 percent increase in revenues driven by the exponential growth in mobile internet consumption and a rapidly growing customer base. Also, July Systems has recently added clients like ESPN Cricinfo, Univision and Discovery Networks. "Over 80 of the premium media brands in the world are powered and monetized by July's Mi platform and this is the foundation for our growth," said Reddy.

"July Systems has demonstrated strong growth through innovation in the mobile internet space and by delivering value to some of the world's largest media brands. Strategically, July Systems' middleware platform and global customer base complements Intel Capital's portfolio; and Intel Corporation's focus on the rapidly-evolving mobile internet segment," said Sudheer Kuppam, Managing Director, Intel Capital India, Japan, Australasia and South East Asia.

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