Series D Round includes AllianceBernstein, New Enterprise Associates,
Columbia Capital and Grotech Capital Group
ROCKVILLE, Md., Jan. 7 /PRNewswire/ -- Hillcrest Labs announced today
that it has closed an additional $25 million round of funding, led by new
investor AllianceBernstein. Existing investors including New Enterprise
Associates (NEA), Columbia Capital and Grotech Capital Group also
participated in this latest round of funding. Hillcrest Labs will use the
funds to further extend its pointer-based application creation platform and
pointing technology to a wide range of devices that control and display
digital media.
"Hillcrest Labs has created an entirely new and potentially
game-changing platform for television and other forms of home
entertainment," said Jamie Kiggen, Senior Vice President of
AllianceBernstein. "By combining pointing with a graphical, 'zoomable'
interface, their technology holds the promise to fundamentally alter how
consumers interact with their TV and digital media. We're pleased to have
made this investment and look forward to working with their management team
in the months and years ahead."
"Competition is intensifying, not just between traditional television
service providers -- like cable operators, telcos and satellite companies
-- but also with consumer electronics manufacturers planning to make
'over-the-top' plays in home entertainment," said Peter Barris, Managing
General Partner of NEA Associates. "All of these companies face the same
issue -- how to enable consumers to easily navigate the thousands of
content options that are packaged with their service offerings. Hillcrest
solves this problem uniquely and will create significant value for its
customers."
"We now have multiple deals with major companies that plan to bring our
technology to market in the near future," said Dan Simpkins, Founder and
CEO of Hillcrest Labs. "We aim to bring a new 'point-and-click' paradigm to
the television and beyond. This investment is further validation of our
business and technology. In the end, we're committed to helping our
partners differentiate their offerings by creating new ways to browse,
discover, and interact with digital media throughout the home."
In addition, Hillcrest Labs announced that it will demonstrate the
company's products and technology at the upcoming Consumer Electronics Show
(CES) in booth location South 1 - 21531. They will also participate at
PepCom's "Digital Experience" press and analyst event
(http://www.pepcom.com/de-kit-web.pdf) on Sunday, January 6 from
7:00pm-10:00pm. Dan Simpkins, CEO, will speak on Digital Hollywood's CES
panel titled "The Connected TV and Set-top as the Consumer Gateway to
Entertainment & Information - Set-Top, Broadband, Guides & PVRs" on
Tuesday, January 8 from 3:00-4:00pm.
Founded in 2001, Hillcrest Labs' software has been honored numerous
times including the CES Innovations Award 2006, Gartner's Cool Vendors for
2006, and Popular Mechanics Editor's Choice Award 2007. The first
commercially available product to utilize Hillcrest's patented
Freespace(TM) technology is the Logitech(R) MX Air(TM) Rechargeable
Cordless Air Mouse. Hillcrest's Freespace Reference Kit (FSRK) is now
available to companies that want to manufacture Freespace-enabled devices.
For more information about Hillcrest Labs, visit
http://www.hillcrestlabs.com.
About Hillcrest Labs
Hillcrest Laboratories (a.k.a. Hillcrest Labs) sells an application
creation platform called HoME, which enables consumer electronics
manufacturers and service providers to create unique interactive digital
media products for TV and other digital media devices. Applications made
with HoME are controlled by pointing and provide consumers an intuitive way
to browse, discover, and interact with large volumes of digital media.
Hillcrest Labs' pointing technology, called Freespace(TM), can be used in a
wide range of consumer devices including remote controls, PC mice, and game
controllers. The company's iconic reference device is the Loop(TM) -- a
pointer-based TV remote that uses just two buttons and a scroll wheel. HoME
and Freespace have received numerous awards including the CES Innovations
Award and Popular Mechanics' Editors Choice. Based in Rockville, Maryland,
Hillcrest Labs was founded in 2001 by Dan Simpkins. The company is funded
by NEA, Columbia Capital and Grotech Capital. For additional information,
visit http://www.hillcrestlabs.com.
Logitech, the Logitech logo, and other Logitech marks are registered in
the United States and other countries. Freespace is a trademark of
Hillcrest Labs. All other trademarks are the property of their respective
owners. Hillcrest Labs, Freespace, and the Loop are trademarks of Hillcrest
Laboratories, Inc.
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