DeviceVM Announces Series B Funding of $10M

DFJ Dragon leads second round of funding; Presidio, HTC Founders, WR Hembrecht Ventures join Series B

October, 2007 – SAN JOSE - DeviceVM, a San Jose-based company developing rapid-start computing technologies, today announced the closing of a $10 million Series B round of funding to support its continued growth. The lead investor for this round of financing is premier venture capital firm DFJ Dragon, an affiliate fund of Draper Fisher Jurvetson of Menlo Park, California.  Additional contributors to this financing round include Sumitomo’s venture arm, Presidio, HTC Founders Cher Wang and Chen Wen Chi, and WR Hembrecht Ventures.

“We are very excited to have the financial backing of DFJ Dragon,” says Mark Lee, CEO and co-founder of DeviceVM. “The support from DFJ Dragon and our other investors will allow us to expand the distribution of our Splashtop technology to a worldwide audience.”

This latest round of financing follows an August 2007 $10.5M first round of funding. Storm Ventures lead the Series A investment, with DFJ Dragon, ASUS, iDInnovations (Acer), Harbinger (Mitac-Synnex), and various angels contributing.

With the funding, DeviceVM plans on incorporating Splashtop™ with a wide range of manufacturers and products. The company plans to have numerous Splashtop-enabled motherboards, desktops, and laptops available internationally in 2008.

“We believe DeviceVM offers consumers an incredible computing experience,” says Bobby Chao, Founder and Managing Director of DFJ Dragon. “We look forward to Splashtop becoming widely available on products from major computer manufacturers.”

“Splashtop promises to be a disruptive force that changes the world of personal computing as we know it,” says Tim Draper, the Founder and Managing Director of DFJ Dragon, and an investor behind successes such as Skype and Baidu. “We are extremely pleased to back such a revolutionary company and product.”

About DeviceVM

DeviceVM, Inc. is a privately held software company offering Splashtop, an ‘instant-on’ computing platform enabling faster and more efficient computing. The Company partners with OEMs and manufacturers to integrate its core technology into personal computers worldwide. Founded in 2006, DeviceVM is headquartered in Silicon Valley with offices in Taiwan and China.

About DFJ Dragon

DFJ Dragon is a leading early-stage technology venture capital firm in the People's Republic of China and Silicon Valley, California.  The fund was established in March 2006 by managing directors Tim Draper, Bobby Chao, Tony Luh, Larry Li and Andy Tang, with approximately $100 million under management.  DFJ Dragon has since invested in fourteen companies, spanning diverse industries including clean technology, medical devices, Internet, mobile applications and semiconductors.  DFJ Dragon is the China affiliate fund of Draper Fisher Jurvetson (www.dfj.com), which has over 130 venture capital professionals, across 33 cities in the US, Asia, Europe, Israel, South America and Russia, with more than 550 portfolio companies funded and over $5.7 billion of capital under management, and has been investing in China since 1998.  Their successful investments in China include Baidu (BIDU), KongZhong (KONG) and Focus Media (FMCN).  DFJ Dragon maintains offices in Beijing, Shanghai and Silicon Valley, California.