SANTA CLARA, CA--(Marketwire -08/23/12)- PLAiR, a consumer electronics company, today announced it has raised $2.1 million in seed funding from notable investor, Roger McNamee, and FLOODGATE. The company was founded by wireless technologies experts aiming to change the way people consume and experience content. The company has been operating in stealth mode since early 2011 and plans to announce its flagship product at the end of the summer.
"The world is quickly falling out of love with traditional and cumbersome methods of entertainment," stated Saad Hussain, PLAiR co-founder and CEO. "At PLAiR, we are defining a new entertainment paradigm with the founding idea that people should be able to watch anything, anytime, anywhere. With wide interoperability across consumer devices, PLAiR promises to become as pervasive as the smartphone."
Hussain, a serial Silicon Valley entrepreneur, and his co-founder, Todd Wheeler, met at Marvell Technology Group, where they were both part of the core team in charge of delivering the wireless technology that powers the Apple iPhone, Sony PS3 and PSP, and other household consumer electronic devices.
"If there's one team that can deliver a never-before-seen wireless technology that can become ubiquitous at the cultural level, it's the founding team at PLAiR," said Roger McNamee, managing director and co-founder of Elevation Partners. McNamee's investment is personal, not through Elevation. "PLAiR's solutions are the perfect example of the Hypernet in action, with the potential to change how search and discovery of content occurs in a world where the Internet is being widely accessed over cellular and WiFi networks. There is nothing on the market that rivals the consumer experience delivered by PLAiR."
McNamee is joining the company's board as an observer and Mike Maples, Jr., co-founder of FLOODGATE, is joining the company's board of directors.
"PLAiR has delivered a breakthrough product for videos and photos that is extraordinarily compelling and easy to use," said Mike Maples, managing partner of FLOODGATE. "With its reinvention of how we search, share, and interact with content at home or on the go, we expect PLAiR to transform home entertainment much like smartphones transformed the mobile phone business."
The current round of funding will be used for the upcoming product launch and for future product development.
Based in Santa Clara, PLAiR's mission is to enable anyone to watch anything, anywhere, anytime. The company brings together a team of wireless technology experts to fundamentally change the way people consume and experience content. The company is backed by Roger McNamee of Elevation Partners and FLOODGATE.
- Roger McNamee
Atomic PR for PLAiR