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Venture Capital News: UIEvolution Lands $8M in Series A

2013-12-13
SEATTLE, WA, Global leader in connected screen software and services, announced it has raised $8 million.
UIEvolution, Inc., the global leader in connected screen software and services, announced it has raised $8 million. This latest investment round was led by Intel Capital, with participation from Shaw Ventures, an affiliate of Shaw Communications. UIEvolution will use the funds to further invest in its automotive products and its connected products in retail, restaurant, hospitality and cruise. These investments will help extend UIEvolution's leadership position in each of these industries.

This round of funding comes on the heels of UIEvolution's extensive growth and launch of the Evolution Platform, a powerful platform for delivering applications where they are needed most - everywhere. To support the efforts of delivering industry specific solutions, UIEvolution has recently created two specific business units to focus on these areas. The Automotive business, led by Koji Hosaka, President of UIEvolution KK, will focus on automotive solutions for OEM's and their Tier-1 technology providers. The Connected Products business, led by Travis Beaven, Chief Product Officer, will focus on cloud-based delivery of mobile, SmartTV and Digital Signage solutions for the retail, restaurant, hospitality and cruise industries.

'This is an exciting time at UIEvolution,' said Chris Ruff, CEO and President of UIEvolution. 'In addition to expanding our successful mobile business, this new round of funding will provide the necessary resources for UIEvolution to continue our growth and develop cutting-edge software solutions for automotive and other connected consumer experiences; verticals where customer demand is growing rapidly. The support from Intel and Shaw validates our mission and is strategically important due to their leadership positions in key market segments for our business.'

Last month, UIEvolution announced new features to UIEngineTM and Auto Evolution™, an in-vehicle cloud-based software system that delivers a simplified, connected app experience for drivers. The capabilities include the addition of three new products: UIE Cloud Navigation, UIE Automotive Reference HMI and Drivelytics. These products continue to separate UIEvolution as a leader in vehicle head unit software, smartphone integration, the cloud, and analytics, allowing customers to safely connect to the applications they demand most. UIEngine™ and Auto Evolution™ continue to be widely adopted by many of the world's largest automotive OEM and Tier 1 manufacturers, including Toyota, Lexus, DENSO, Clarion and others.

'We are pleased to continue our relationship and investment with UIEvolution,' said Elliot Garbus, Vice President and General Manager of Intel's Automotive Solutions Division. 'While we are thrilled about the overall business opportunity, Intel is particularly excited to help scale UIEvolution with efforts that expand its leadership on a global basis in automotive solutions.'

In addition to the announcement of new features to UIEngineTM and Auto Evolution™, UIEvolution recently announced the company's Guest Evolution platform, a standards based platform for managing content and information between mobile devices, digital signage and Smart TVs. Guest Evolution was chosen by Princess Cruises for the next-generation technology platform for their newest ship, the Royal Princess. UIEvolution's products deliver both the in-suite IPTV and VOD services, as well as the vessel's digital signage solution. This new investment will allow the company to expand Guest Evolution, its easy-to-use Experience Manager product, as well as provide resources for expanding sales and marketing to meet the demands of its growing customer base.

As part of this investment, the company has also appointed Marc Yi, Managing Director - Intel Capital, to its board of directors. Mr. Yi was previously a board observer.

About Intel Capital

Intel Capital, Intel's global investment and M&A organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$11 billion in over 1,322 companies in 54 countries. In that timeframe, 204 portfolio companies have gone public on various exchanges around the world and 336 were acquired or participated in a merger. In 2012, Intel Capital invested US$352 million in 150 investments with approximately 57 percent of funds invested outside North America. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com or follow @Intelcapital.

About Shaw Ventures

Shaw Ventures is an investment affiliate of Shaw Communications, one of the largest diversified communications and media companies in Canada, providing consumers with broadband cable television, High-Speed Internet, Home Phone, telecommunications services, satellite direct-to-home services and engaging programming content. Shaw is traded on the Toronto and New York stock exchanges.

About UIEvolution

UIEvolution is the leading mobile solutions provider for Fortune 1000 companies. We help companies take full advantage of connected screens by extending their brands, delivering their unique business objectives, and ensuring that the devices that create the mobile lifestyles of their customers are joined in a continuous thread - smartphones, tablets, smart TVs, and automotive applications. UIEvolution combines world-class consultative services and deep industry knowledge with the proven UIEngine & Evolution Platform. Headquartered in Seattle with offices in Tokyo and Honolulu, UIEvolution has a 13-year track record with clients like Toyota, AT&T, Microsoft, Disney, Princess Cruises, Samsung, Mitsubishi, and NTT.
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