CHICAGO – April 21, 2006
– tvCompass, a
technology company with an innovative approach to mobile interactive
entertainment, at home and on-the-go, announced today that it has
raised a $5.1 million Series A round of funding for growth capital
and to expand its customer base. The round was led by led by Jackson
Boulevard Capital, Evergreen Park, IL.
The tvCompass Smart Remote™ platform is an integrated
solution offering a simple to use universal remote control with
color LCD display, and WiFi connectivity to receive TV listings and
one-click access to popular content and information. As an original
design manufacturer (ODM), tvCompass offers licensed product designs
to accelerate the adoption of next generation “second screen”
handheld devices for use with home entertainment systems. The
company licenses its hardware and software technology and generates
revenues from services and content served up on the Smart Remote
color LCD screen. tvCompass is gearing up for the market
introduction of the “Wi-Q” advanced home theater universal remote
control from Thomson Inc., as its first original design partner.
“We are in a fantastic position for a technology upstart -- we’ve
just secured additional capital, have a partnership with a
world-class consumer electronics company, are within a quarter of a
retail launch and enter the market with a strong patent portfolio,
said Paul Duggan, Chairman of tvCompass.
tvCompass Inc. was founded in 2003 by Frank O’Donnell, a pioneer
in the remote control and consumer electronics markets, Peter
Florence a serial entrepreneur and Paul Duggan. Joined by new CEO,
Ed Zylka in November 2005, Ed brings more than 20 years of consumer,
wireless and broadband industry experience from companies including
Motorola Inc. and General Instrument Corp.
“We are delighted to have a group of investors that share our
vision of the business. The company now looks forward to expanding
its roots in Chicago, a city that has produced an amazing number of
innovative consumer electronics companies and seen its start-up
businesses grow into significant global market players”, remarked
CEO Ed Zylka.
About tvCompass tvCompass Inc. is a
global technology company with an innovative approach to interactive
entertainment, at home and on-the-go. tvCompass’ patented technology
and multi-platform solutions enable people to wirelessly interact
with television and broadcast programming content through popular
handheld consumer devices. tvCompass provides networking, hardware,
software and content services designed to accelerate the adoption of
wireless interactive entertainment by consumers. tvCompass products
are enjoyed everyday by thousands of customers who are seeking to
enhance their TV viewing. As an original design manufacturer, the
company licenses its hardware and software technology and generates
revenues from services provided on both the mobile phone and Smart
Remote platforms. For more information, visit
www.tvCompass.com. |
