Metranome Closes Funding for Poptiq Mobile Video
Waterloo, Ontario. December 23, 2008 - Metranome, the creators of Poptiq - a mobile video application for the iPhone and iPod touch - announced today that it has closed a round of financing from Tech Capital Partners. This most recent funding brings the total amount raised to over $2 million and will be used to expand the application development efforts and extend the Poptiq experience to other mobile devices.
"Since it's first release in September, Poptiq has been delighting iPhone and iPod touch users with a personalized video service that provides engaging mobile video content. With the launch of our second version just a few weeks ago, we have added new features and content that further extends our leadership position in the mobile video application market." said David Kruis, CEO of Metranome. "This funding from Tech Capital Partners will allow us to continue to create exciting and innovative experiences in mobile video for users worldwide."
Working with leading online content creators and video producers, Poptiq delivers short form entertaining and informative videos to mobile users, learning their likes and dislikes to ensure videos are relevant. Poptiq users also share videos with friends in their social networks using the Poptiq applications on facebook, MySpace, and Twitter. Poptiq's unique approach to mobile video provides a high quality video experience to mobile users, regardless of network connection.
In reference to Metranome's technology roadmap, Craig Dunk, CTO of Metranome commented: "Not only have we developed a great video experience for iPhone users, we have created transferable and scaleable technologies that allow us to extend this experience to other platforms. We are looking forward to bringing Poptiq to additional mobile devices throughout 2009."
Poptiq is currently available for the iPhone and iPod touch and can be downloaded from the Apple iTunes App Store. The full version of Poptiq is available for $3.99. Poptiq Lite, a trial version, is available as a free download.
About Tech Capital Partners Inc.
Based in Waterloo, Ontario, Tech Capital Partners manages $95 million in venture capital. Tech Capital provides seed financing, hands-on leadership, market strategy and operational guidance to early-stage technology companies that have the potential to compete at a global level. Since its inception in 2001, Tech Capital has invested in some of Canada's most innovative high-tech companies. For more information, please visit www.techcapital.com.
About Metranome Inc.
Metranome is a leading provider of mobile video solutions for consumers, brands, and content producers. Poptiq, Metranome's mobile video application, was released for the iPhone and iPod touch in September 2008, supporting major content creators and publishers in their efforts to connect with and engage mobile users through video. Metranome also works with leading advertising networks and brands in bringing video messaging to mobile users. Metranome is a venture-backed private company. For more information, please visit www.metranome.net or www.poptiq.com.