Zoove Raises $13 Million in Third Round of Financing

09/15/09
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Mobile direct response marketing platform to use funding to support the US launch of cross-carrier abbreviated dialing code services.

Company prepares to launch with support from operators, brands and advertisers

Palo Alto, CA -- September 15, 2009 -- Zoove, provider of the patented abbreviated dialing mobile direct response marketing service, today announced the first close of a $13 million Series C funding round. The funding will support the aggressive growth of the company, and the United States launch of cross-carrier abbreviated dialing code (ADC) services using ## (PoundPound) and ** (StarStar) abbreviated dialing codes. Investors participating in the round include Highland Capital Partners, Worldview Technology Partners and Cardinal Capital Partners.

"With this new round of funding Zoove will move forward to roll out the abbreviated dialing mobile direct response marketing platform across the major US carriers," said Tim Jemison, Co-founder and Chief Executive Officer of Zoove. "StarStar dialing will provide brand advertisers, agencies and media companies with a uniform and universal call to action in their advertising. Verizon's participation in the round indicates how powerful and important ADCs and mobile direct response are to the growth of mobile marketing, and how big the opportunity is for Zoove."

Zoove's patented mobile direct response marketing platform enables marketers to easily engage consumers in interactive campaigns via a mobile phone through simple dialing. Less complicated than text messaging direct response, dialing a unique ## or ** code is as simple as calling a phone number, and can immediately deliver to a consumer's device a wide variety of follow on user-targeted responses, such as a text message, a link to a web page, a video, an image, or product information downloaded to the phone. Dialing an ADC can also result in a voice call to a call center or interactive voice response (IVR) system.

"Brand advertisers are constantly seeking more effective direct response mechanisms to engage and interact with mobile consumers and Zoove's ubiquitous mobile direct response marketing platform will give them that capability," said Sean Dalton, General Partner at Highland Capital. "We are excited about the possibilities that this opens up for the integration of traditional advertising with mobile devices as a direct response and customer engagement platform."
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