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ZoomSystems Announces $20 Million Financing to Expand Domestically and InternationallySeries E Financing From Sierra Ventures, Goldman Sachs Group, Inc., NeoCarta Ventures, Motorola Ventures and Starfish Ventures to Fund Technology Company's Expansion (February 10, 2009)
SAN FRANCISCO, CA -- (Marketwire) -- 02/10/09 -- ZoomSystems, the technology leader that created automated retail, announced today that it has closed a $20 million Series E financing round from Sierra Ventures, Goldman Sachs Group, Inc., NeoCarta Ventures, Motorola Ventures, the strategic venture capital arm of Motorola (NYSE: MOT), and Starfish Ventures. The funds will be used to expand the ZoomSystems automated retail channel domestically and internationally.
ZoomSystems has established a network of automated retail stores, called ZoomShops, that offers a unique shopping experience; the convenience of online shopping coupled with the consumer gratification of immediate product delivery. ZoomShops automate all the capabilities of a retail channel, allowing brand and location partners to differentiate themselves with an enhanced consumer experience. All ZoomShops are centrally networked and monitored and provide brands the most efficient way to grow their revenue and profits, resulting in the highest sales-per-square-foot average in the retail environment. ZoomSystems partners with leading brands including Apple iPod, Sony, Proactiv Solution, Best Buy, Macy's and Rosetta Stone to place ZoomShops in high-traffic locations such as airports, shopping centers, and retail. There are currently over 800 ZoomShops throughout the United States and Japan.
Gower Smith, founder and CEO of ZoomSystems, said, "We are continuing to deliver results for our customers, even in this challenging economic environment. The continued support from all our institutional investors is a testament to the strength of the ZoomSystems' business. We now have the capital to control our destiny and focus on operational excellence."
"We are extremely pleased with ZoomSystems' continued rapid growth and clear leadership position in the new space of automated retail," said Jeff Loomans, partner at Sierra Ventures. "We were very happy to participate further in this exceptional opportunity, and are pleased to be able to continue working with the ZoomSystems team."
ZoomSystems' executive management team, board of directors and advisors all have extensive technology and retail backgrounds at companies that include Borders Group, Kroger, PepsiCo Inc., Saks Inc., MCI Communications Corp., Visa International, Starbucks and Mattel.
Founded in 2002, San Francisco-based ZoomSystems enables brands to place their products directly in the path of consumers in an intensely interactive manner, removed from the competitive clutter of traditional retail. ZoomShops offer the immediate gratification of instant product delivery and are the first automated retail concept offering such a wide variety of leading brands. ZoomSystems partners with leading brands to implement networks of automated retail stores in high-traffic locations such as airports, shopping centers, supermarkets, and retail. ZoomSystems' investors include Goldman, Sachs & Co., Sierra Ventures, NeoCarta Ventures and Motorola Ventures. For more information, visit www.zoomsystems.com.
About Sierra Ventures
Sierra Ventures, founded in 1982, is a privately held venture capital firm focused on investments across all areas of the Information Technology sector from semiconductors to enterprise software. Sierra Ventures has managed nine venture capital partnerships and currently has more than $1.5 billion of capital under management. Some of the firm's investments include 360Commerce (acquired by Oracle), Active Software (acquired by WebMethods), AmeriGroup (AGP), Authentec (AUTH), Centex (acquired by WorldCom), ConvergeNet (acquired by Dell), FatBrain (acquired by Barnes & Noble), Frontbridge (acquired by Microsoft), Healtheon (merged with WebMD), Interact Commerce (acquired by Sage), Intuit (INTU), Micromuse (acquired by IBM), OnAssignment (ASGN), OnLink (acquired by Siebel), Quinta (acquired by Seagate), StrataCom (acquired by Cisco), Sourcefire (FIRE), Sychip (acquired by Murata Manufacturing) and Teradata (acquired by NCR). More information is available at http://www.sierraventures.com.
About Goldman Sachs Group, Inc.
The Goldman Sachs Group, Inc. is a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.
About NeoCarta Ventures
NeoCarta Ventures is a leading venture capital firm specializing in early to mid-stage technology investments. The firm focuses on investments in IT infrastructure, software, hardware, networking, media and wireless. With offices in San Francisco and Boston, NeoCarta partners' backgrounds include senior investment experience with outstanding track records at GE Capital, Intel Capital, Thomson, and NBC. NeoCarta works closely with entrepreneurs and actively adds value by providing strategic guidance, team-building skills, industry knowledge, and operating expertise. With NeoCarta's unique mix of financial, operational, and technical expertise, the firm is able to add value at all stages of a company's development. www.neocarta.com
Motorola is known around the world for innovation in communications and is focused on advancing the way the world connects. From broadband communications infrastructure, enterprise mobility and public safety solutions to high-definition video and mobile devices, Motorola is leading the next wave of innovations that enable people, enterprises and governments to be more connected and more mobile. Motorola (NYSE: MOT) had sales of US $30.1 billion in 2008. For more information, please visit www.motorola.com.
About Starfish Ventures
Established in 2001, Starfish Ventures is an Australian-owned venture capital fund manager seeking superior returns through active investment in innovative technology companies. Starfish Ventures has over $400 million in funds under management and has made investments in over 35 companies to date. Starfish seeks investments in emerging Australian businesses across all technology sectors including biotechnology and life sciences, information and communications technology, and clean technology. Further information about Starfish Ventures can be found at www.starfishvc.com.
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