dotPhoto Receives $3.5 Million in Second-Round Investment

May 09, 2006

dotPhoto, a provider of photo, video, and multimedia sharing and storage applications, and services for wireless and online users, has announced the closing of a $3.5 million second-round equity commitment from Edison Venture Fund and Sycamore Ventures. This brings the cumulative investment from the two investors to $7.5 million.

This second-equity round may include additional equity and debt financing. dotPhoto will use the current proceeds to support the further enhancement of its business development and marketing programs. The company has recently made investments in the expansion of its executive team with the appointments of Jiren N. Parikh to VP and GM--Wireless and Fred King to VP and GM--Web.