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UK MULTI-CHANNEL WEB SOLUTIONS SPECIALIST VOLANTIS SECURES $11m THIRD ROUND FUNDING

-Investment Confirms Market Leadership, Supports Further Growth & Readies Market For The 'Multi-touchpoint' Customer-

23rd July 2002: Volantis Systems Ltd ('Volantis'), a leading provider of multi-channel software solutions that allow organisations to cost effectively deploy web-applications across multiple devices, today announced funding of US $11m from Accel Partners and existing investors Kennet Venture Partners and Softbank Europe Ventures. Kaj-Erik Relander will join the Board of Volantis Systems as a result of the Accel investment.

Volantis, one of the first companies to offer a multi-channel web solution and who recently announced deals with Hutchison 3G (recently re-branded as 3) and Telefónica Móviles, will use the investment to extend its market leadership through increased research and development and geographic spread to ensure the scalability is in place to match the huge demand forecasted for multi-channel solutions within the telecommunications and enterprise market places.

Responding to the needs of companies looking to reach customers over the growing number of connected devices and networks (mobile handsets, PDAs, iTV etc), Volantis' Mariner software intelligently targets, personalises and optimises the presentation and behaviour of web applications according to the device being used to access it. The technology eliminates the need for organisations to continuously invest in their web strategies as new devices are introduced onto the market.

Terry Davies, CEO of Volantis, commented: "Like any fundamental shift in technology, multi-channel web infrastructures represent both an opportunity and a risk to business. An opportunity because it provides businesses, such as banks, enterprises and other service providers, with a means of extending customer reach and allowing customers to chose how they interact with a service, and a risk because of the potential costs required to support these new channels and devices."

"Volantis Mariner has removed this layer of complexity by offering a capability to support new devices as they are released, delivering tailored content from one central web application. Seamless delivery of content and applications in a wireless, multi-channel environment is becoming an increasingly important issue for wireless carriers and enterprises alike. Volantis's breadth and depth of technology, combined with a demonstrated delivery capability, leaves them uniquely placed to lead the market in this area", said Kaj-Erik Relander, General Partner, Accel Partners.

David Carratt, managing director of Kennet Venture Partners said, "Volantis has made exceptional progress over the past two years since Kennet's first investment. The acceptance of its main product by industry leaders in the wireless operator market and the compelling logic of developing a multi-device solution continue to convince us of Volantis' value proposition. Clearly, as businesses 'extend the enterprise' to mobile devices, Volantis Systems' multi-device enabling solutions will be in great demand."

The company's customers include Hutchison 3G (3), where Volantis' flagship solution, Mariner, will manage the packaging of Hutchison's 3G (3) services and their delivery over multiple device types and Telefónica Móviles, who has integrated Volantis' technology as the delivery platform for its multi-access customer portal. The portal hosts Telefónica Móviles' messaging and mobile internet services such as e-mail, chat, m-commerce, downloads and games. Volantis will be announcing further customers from both the telco and enterprise markets over the next few months.

"This investment represents a key stage in the development of the company. We believe we are about to enter the age of the 'multi-touchpoint' customer, where a single consumer will expect to interact with a service provider using both traditional channels and an increasing variety of internet-capable devices. Considering the current, harsh market for investment, we see the investment from our venture partners as true endorsement for our commercial proposition and look forward to supporting those customers looking to leverage this important shift in the way we do business," adds Terry Davies.

Volantis, which was formed in 2000, achieved first round funding of approximately $3 million from Kennet Capital in July 2000. Second round funding of $ 9 million was secured in March 2001 from Softbank Europe Ventures and Kennet Capital.

About Volantis Systems Ltd

Volantis Systems Ltd develops enterprise and carrier class infrastructure software for the Pervasive Internet. With Volantis, enterprises and telcos can increase their speed to market by rapidly delivering support for wireless and broadband devices, and future-proof their investment in interactive application development by dynamically adapting to new technologies in the market.

About Accel

Accel Partners is a venture capital firm dedicated to helping outstanding entrepreneurs build category-defining technology companies. In order to meet this challenge with a "prepared mind," we focus the investment of over $3 billion under management in just two areas: Networking and Software.

About Kennet Venture Partners

Kennet Venture Partners is a leading European early-stage venture capital firm focused exclusively on the IT, communications and media industries. Kennet places a strong emphasis on investments in networking and communications technologies, semiconductor IP, Internet infrastructure and enterprise software.

About Softbank Europe Ventures

SOFTBANK Europe Ventures (SBEV) invests in early and expansion-stage technology companies with the opportunity to become market leaders. Based in London, SBEV invests in companies across Europe and Israel. SBEV is affiliated with SOFTBANK CORP, one of the world's leaders in technology. SBEV brings to its portfolio companies the benefits of SOFTBANK's international network of companies, contacts and partners.



For further Volantis information, please contact:

Tim De-Luca Smith or Andrew Durkin, MUSTARD PR

Email: tim@mustardpr.com / andrew@mustardpr.com

Tel: +44 (0) 1753 889100

This press release was distributed by ResponseSource Press Release Wire on behalf of MUSTARD PR in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.