July Systems To Get $7 mn from Intel Capital.
July Systems is a mobile media company. It provides integrated Mobile Internet Publishing and Monetization solutions for the media entertainment and sports segment through the Mi™ Platform.It has raised $7 million in Series C funding from Intel Capital. Existing investor Sequoia Capital and Footprint Ventures also participated in this round of funding.
The company had changed its business model in 2005, after its $8 million investment from Sequoia Capital India and Acer Technology Ventures.
July Systems intends to use the funds for growing its business in North America and AsiaPac, invest more into its Mi platform, rich media advertising technologies, real-time interactive video and micro-payment management systems.
July Systems achieves 300 percent growth in revenues and positive Cash Flow.
It has customer base of over 80 leading global media brands
United States: CBS Sports, Vh1, Fox Entertainment Group – Fox Mobile, Fox.com, Fox Reality, FX, Speed, National Geographic, Comedy Central, Nickelodeon, NBA, NASCAR, PGA Tour, GOLF.com, Indy Racing League, NBC Sports, Travel Channel, Travel + Leisure Magazine, Lifetime Network.
India: NDTV – NDTV Profit, NDTV Cricket Network 18 – IBNLive, Moneycontrol, CricketNext, HT Media’s Mint – an exclusive partner of the Wall Street Journal, and the Times Group’s Zoom TV.
Mi™, Mi™ Platform, Mi™ box, Mi™ Channels and Mi™ Studio are trademarks of July Systems.
Transaction reference: MediaNama.com
Previously July System's model allowed third party applications and content find their way to customers directly,this did not suit most Mobile telecom operators who liked to closely control the access to customers of value added services (VAS) on their networks .(Revenues from VAS contribute around 25-30% to operators revenue)
The next model had revenue sharing with media companies which wanted to harness the mobile phone to reach more customers(direct to consumer channels).
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 17/02/12 | July Systems - Updata, Intel, WestBridge | Private Equity | Updata Partners | 15.00 |
| 16/05/11 | July Systems - Intel Capital | Venture Capital | Intel Capital India Technology Fund | - |
| 05/03/10 | July Systems- Intel Capital Series C funding | Venture Capital | Intel Capital India Technology Fund | 7.00 |
| 30/09/05 | July Systems - Motorola Ventures | Venture Capital | Motorola Ventures | 10.00 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 17/05/12 | Private Equity | Looking For | Prizm Payment Services Private Limited | 92.18 | Planned |
| 17/05/12 | M&A | Carzonrent India Private Limited | QCABS | - | Announced |
| 17/05/12 | M&A | Trivone Digital Services Private Limited | Chakpak Media Private Limited | - | Completed |
| 17/05/12 | M&A | Trivone Digital Services Private Limited | WheelsUnplugged.com | - | Completed |
Fund |
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| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| Intel Capital India Technology Fund | 250 | IT/ITES/Technology Outsourcing |
www.intel.com/capital | Takayuki SasakiSarayu SrinivasanAnupam SrivastavaPradeep M TagareVarsha TagareMahesh Vaidya |
| Footprint Ventures | IT/ITES/Technology Telecom Infrastructure Healthcare Pharma |
http://www.footprintventures.com/index.htm | Neill BrownstainNeil BrownsteinLinda BrownsteinAnjana KaulJosh Bornstein | |
| Sequoia Capital India | BFSI Healthcare Retail Infrastructure |
http://www.sequoiacap.com | Rajiv Sabharwal Mohit BhatnagarSumir ChadhaGautam MagoShailesh LakhaniPorko ElangoAbhay Kumar PandeyK P. BalarajShailendra SinghSurendra JainG V RavishankarV T BharadwajNikhil BalaramanTaru Kapoor | |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| July Systems and Technologies Private Limited | Rajesh T.S. Reddy | # 17/9C, 17/4C, 4th Floor, Maruthi Chembers , Rupena Agrahara 9, Near Central Silk Board | Apalya Technologies Private Limited | www.julysystems.com |
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