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Polar Mobile Raises $6 Million in Funding for New MediaEverywhere Product Line


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Polar Mobile Raises $6 Million in Funding for New MediaEverywhere Product Line

  1. 1. Polar Mobile Raises $6 Million in Funding For NewMediaEverywhere™ Product LineJanuary 23, 2012 (Toronto, Canada) – Polar Mobile(, a leading platform provider for digital mediadistribution, today announced a $6 million funding round led byGeorgian Partners with co-investment from the Ontario Venture CapitalFund “OVCF” (Toronto). The new funding joins more than $3 millioninvested to-date from private investors and is being used to expandglobally and launch MediaEverywhere, a new product line that willtransform the media industry.The world’s largest media companies work with Polar today, includingCBS Interactive, Condé Nast, Sports Illustrated, The Globe and Mail,Shanghai Daily, Future Publishing, Rogers Media, Khaleej Times and theWall Street Journal. Polar is a go-to partner for top-tier publishers,broadcasters and sports media brands, having worked with over 380media brands in 12 countries and having served over 1.6 billion pageviews to 11 million users to-date.“Polar transformed how media companies deliver content tosmartphones and tablets by providing a turnkey, cloud-based softwareplatform for the rapid deployment of feature-rich native applications”,said Kunal Gupta, Chief Executive Officer, Polar Mobile. “We are thrilledto have the backing of Georgian and now it is helping to accelerate thelaunch of our next-generation software platform, MediaEverywhere.”MediaEverywhere is an HTML5-based solution to distribute mediacontent in a multi-device environment, including smartphones, tabletsand desktops. It will include support for both app-centric and browser-based media consumption and enable Polar’s media customers tocreate, design and manage custom user experiences in-house.MediaEverywhere will decrease customers’ development time andincrease their opportunity to monetize their content.“The complexity of new platforms and ever-changing business modelsintroduces new opportunities that media companies can benefit fromwith Polar’s help”, says Justin LaFayette, Partner, Georgian Partners.“We are excited about Polar’s ability to scale globally and their vision for
  2. 2. leveraging applied analytics to enhance engagement and drivemonetization of media.”With the rapidly increasing demand from media companies for scalablesoftware solutions to enable better user experiences that are morepersonalized and seamless, MediaEverywhere will use audienceintelligence to increase engagement and monetization opportunities forcustomers.“Digital distribution and monetization is a top priority for mediacompanies around the world and working with Polar has enabled us toaccelerate and scale our digital strategy in a rapidly changing world”,says Albert Read, Deputy Managing Director, Condé Nast. “The Polarteam have been great to work with and we look forward to continuingour relationship.”Polar’s current product, SMART, provides a fast and easy solution formedia companies to launch custom-branded apps across iPhone, iPad,Android, BlackBerry, PlayBook, Windows Phone and Nokia devices.Polar has partnered with top handset manufacturers around the world,and in the past year has entered into commercial agreements withMicrosoft, Nokia, Research In Motion, Intel and Samsung.“Polar’s leadership within media worldwide and their focus oninnovation helps bridge the gap for consumers to enjoy great contentfrom premium brands on the latest devices”, says Gladstone Grant, VicePresident, Microsoft. “We have worked closely with the team at Polarfor a few years now and are excited to continue a close relationship withtheir new MediaEverywhere product line.”Gartner reports that more than 440 million devices were soldworldwide in the third quarter of 2011. Of that total, 26% weresmartphones, for a total of 115 million new devices in market.Meanwhile, an October 2011 comScore study showed that the mobileand connected device share of news publisher audience for top mediabrands is between 7 and 11 percent of the total. This figure is trendingupward, which influences where advertising campaigns can bedistributed to reach the whole digital audience. The connected devicesegment of the personal device market will continue to grow quicklybeyond tablet computing and grow to include most staple house hold
  3. 3. appliances, as seen in the displays at the 2012 Consumer ElectronicsShow in Las Vegas.Headquartered in Toronto, with a presence in San Francisco and Dubai,Polar expects to double their team from 40 to 80 people in 2012 whileopening offices in New York and London.MediaEverywhere will launch later in 2012 and be first rolled out toexisting Polar customers.###About Polar MobilePolar Mobile licenses to global media companies industry-leadingPlatform Services that makes it fast and easy to launch branded mobileapps across every smartphone and tablet device. Thousands of mobileapps are powered by Polar Mobile’s SMART™ Platform for hundreds ofmedia publishers in dozens of countries, including top-tier magazines,newspapers, broadcasters and online portals across the news, sports,entertainment and lifestyle media verticals. For more information, and follow @polarmobile.About Georgian PartnersGeorgian Partners is a growth equity firm investing in expansion stageenterprise software, and information aggregation companies. GeorgianPartners was founded by successful entrepreneurs and technologyexecutives, and is backed by a team with deep operational experience.For more information, please visit the Ontario Venture Capital FundThe $205 million Ontario Venture Capital Fund is a joint initiativebetween the Government of Ontario and leading institutional investorsto invest primarily in Ontario-based and Ontario focused venture capitaland growth equity funds that support innovative, high growthcompanies. OVCF is structured as a fund of funds with the primaryobjective of generating attractive returns for its investors. The Fund is
  4. 4. managed by Northleaf Capital Partners. For more information on OVCF,go to RobertsonPolar