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MobiMate Announces Completion of Financing Round led by Motorola Ventures


Investment to Accelerate Expansion of WorldMate Live Service

LOD, Israel .– MobiMate Ltd, a leading provider of travel services for mobile devices, announced today the completion of a round of financing led by Motorola Ventures, the strategic venture capital arm of Motorola, Inc. (NYSE:MOT). Motorola, Inc. joins MobiMate’s current investor group which includes John Sculley, former CEO of Apple Computer; serial entrepreneur Richard Rosenblatt, investment banker Michael Price of Evercore Partners, Michael Targoff, CEO of Loral Space & Communications and several other prominent industry veterans.

MobiMate’s WorldMate Live is a mobile travel service that supports travelers by providing information and transaction capabilities on their mobile devices and PCs. The service includes a web 2.0 travel planning site and a mobile application to provide real-time, on-the-road travel support. With the ability to import travel booking information from third party travel providers, WorldMate allows for a simplified and seamless travel experience for users on-the-go.

“We believe MobiMate’s context-based travel services have enormous potential to transform the mobile consumer’s experiences and connect people to critical content anytime, anywhere,” said Mony Hassid, managing director, Motorola Ventures in Israel. "The company’s WorldMate Live ushers in the next wave of mobile travel services and seamlessly delivers vital information the consumer wants and needs.”

“We are pleased to add Motorola to our growing list of strategic partners in the mobile space,” stated Nadav Gur, MobiMate’s chief executive officer. ”This investment will provide additional resources which will be instrumental in increasing the company’s market presence and R&D efforts"


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