Press release (07/11/2007)
Moka5™ Ramps Up with Funding and New CEO
Spin off from Stanford University's Computer Science Department raises $15 million and adds Bill Demas as CEO
Redwood City, Calif. — July 11, 2007 — moka5, a virtual computing company targeting consumers and small to medium-sized businesses, today announced completion of a $15 million Series B round of financing. The round was led by Highland Capital Partners and included an additional investment by existing investor Khosla Ventures.
In conjunction, moka5 names former Microsoft and Yahoo executive Bill Demas as Chief Executive Officer. Demas will focus on driving the company's global mission — to make your computing life easy, safe and available anywhere — while building a world-class technology team to realize that mission.
"moka5 is about freedom computing," says Vinod Khosla, founder and partner of Khosla Ventures. "moka5 and its partners will offer solutions and services that offer freedom from hardware, freedom from spyware, and freedom to carry your computing environment as you wish."
"The opportunity to join a technology organization with transformational potential like that of moka5 is exciting," says Bill Demas. "moka5 is passionate about delivering a worry-free computing experience."
Demas comes to moka5 with broad experience in business development, product development, marketing, sales, strategy and general management. He was most recently SVP and GM of the Yahoo Publisher Network Group. At Overture, acquired by Yahoo in 2003, Bill helped lead the company to distribution and publisher revenues of $1 billion. Following the acquisition by Yahoo Publisher Network Group, Demas built hundreds of exclusive distribution relationships with major Internet sites and publishers of all sizes resulting in revenues that more than doubled through 2006.
"moka5 is breaking boundaries as they develop computing with no hassles, no maintenance and no security problems," says Corey Mulloy, General Partner at Highland Capital Partners. "Bill's strong track record of entrepreneurial rapid-growth makes him a critical asset as we take the company to the next level."
moka5 Founder and former CEO Monica Lam will continue to help advance the technology at the company as Chief Scientist and has resumed teaching and research in her role as a Professor in the Computer Science Department at Stanford University.
Founded in 2005 and headquartered in Redwood City, California, moka5 is a virtual computing company whose mission is to make your computing life easy, safe and available anywhere. moka5 is passionate about delivering a worry-free computing experience for the real world. For more information, visit www.moka5.com.
About Highland Capital Partners
Highland Capital Partners was founded with the mission of helping great people build great companies. Since its inception in 1988, the firm has taken a sector-focused approach to investing in exceptional communications, consumer, digital media, healthcare and information technology companies. With over $2.6 billion of committed capital, Highland has invested in and worked to create such firms as Altiga Networks, Ask Jeeves, Avid Technology, Be Free, CheckFree, Conor Medsystems, Continental Cable, EXACT Sciences, Lycos, MapQuest, New Oak Communications, Ocular Networks, Odyssey Healthcare, Sybase, Telica, VistaPrint and WebLine Communications. For more information, visit www.hcp.com.
About Khosla Ventures
Khosla Ventures offers venture assistance, strategic advice and capital to entrepreneurs. The firm helps entrepreneurs extend the potential of their ideas in both traditional venture areas like the Internet, computing, mobile, and silicon technology arenas but also supports breakthrough scientific work in clean technology areas such as bio-refineries for energy and bioplastics, solar, battery and other environmentally friendly technologies. Vinod Khosla was formerly a General Partner at Kleiner Perkins and founder of Sun Microsystems. Vinod has been labeled the #1 VC by Forbes and Fortune recently labeled him as one the nation's most influential ethanol advocates, noting "there are venture capitalists, and there's Vinod Khosla." Vinod Khosla founded the firm in 2004 and was joined by partners David Weiden and Samir Kaul, as well as chief scientific officer Doug Cameron in 2006. Khosla Ventures is based in Menlo Park, California. For more information, visit www.khoslaventures.com.
Weber Shandwick Worldwide
“BYOD is one of the most important directions in enterprise IT, with enormous potential benefits in productivity and cost savings. BYOD isn’t just about securing or even managing mobile devices. There are major requirements in consciousness-raising, policy definition and enforcement, and end-to-end solutions that include not just devices, but the enterprise data they increasingly contain.”
—Craig Mathias, Principal
MokaFive @ a Glance.
MokaFive creates a highly-elastic enterprise perimeter where user data and applications are delivered as simply-managed and highly-secure workspaces to popular end-user devices.
M5 Enterprise AnyWare delivers:
- Un-tethered, device-aware, and secure access on public and private networks
- Centralized management of image and policies
- Standardized single image, yet layered with customized apps and data
- Single click recovery from malware and virus attacks
- Online and offline access, as well as out-of-band management