Gizmoz Raises $6.3 Million from Benchmark Capital and Columbia Capital

MENLO PARK, Calif. and HERZLIYA, Israel, May 31 /PRNewswire/ -- Gizmoz, http://www.gizmoz.com/, a social expression and user generated media service, today announced that it secured a $6.3 million Series A investment from Benchmark Capital and Columbia Capital. The funds will be used to expand the company's product development efforts and support its global expansion plans.

"Gizmoz is all about creating a digital identity that consumers can use to express themselves across a variety of virtual venues," said Eyal Gever, founder and chief executive officer of Gizmoz. "We look forward to working closely with Benchmark and Columbia to build a business unlike anything that exists today. Both firms immediately recognized the opportunities that exist for our technology, and have the experience, global networks and roll-up-your-sleeves attitude necessary to help us capture an enormous market opportunity very quickly."

Gizmoz launched its new online service today, which allows consumers to create animated, talking characters for use across their digital communications. The 3D lifelike characters can be used to generate video clips and other forms of original content and can be posted to any blog or social networking profile, sent via email to family and friends, or uploaded to video sites. (See separate press release: Gizmoz Launches Free Service to Bring a Real Face and Voice to Digital Communications.)

"Eyal and his team have created a digital medium that has the potential to significantly impact the future of consumer entertainment and communications," said Elie Wurtman, general partner, Benchmark Israel. "Benchmark has a track record of investing early and often in pioneering concepts within the virtual world of avatars, gaming and interactive entertainment, and we are excited about the opportunities that Gizmoz presents. Its photorealistic, 3D talking characters take the concept of creating a digital identity to a whole new level."

"With an expertise in global communications and media, we recognize the importance consumers place on personalization and self-expression," said Arun Gupta, partner at Columbia Capital. "As consumers spend more time online and on the go, they are looking for more creative, interactive ways to communicate and share with others. Gizmoz provides the ultimate in digital identity personalization, and we believe its disruptive technology holds tremendous global opportunities going forward."

About Benchmark Capital

Benchmark Capital, a leading international venture capital firm, was founded in 1995 to help talented entrepreneurs with original ideas build successful technology companies. Benchmark's general partners take a team-oriented, labor-intensive approach to venture investing to deliver a superior level of service to the firm's portfolio companies. Benchmark's portfolio includes high-profile start-ups like Bebo, Infinera, MySQL, OpenTable, Second Life, Tellme, Yelp, and Zillow, and franchise companies such as eBay, Juniper Networks and Red Hat. Managing more than $3.5 billion in committed venture capital, Benchmark has offices in Silicon Valley, Europe and Israel. For more information on Benchmark Capital, visit its website at http://www.benchmark.com/.

About Columbia Capital

Columbia Capital is a venture capital firm specializing in communications, media, and technology investments. Founded in 1989, Columbia Capital has helped establish more than 100 early stage ventures and currently manages more than $2 billion in capital. In the wireless communications and media categories specifically, Columbia Capital has been a founding investor in such notable successes as XM Satellite Radio, Nextel Communications, WNP Communications, WCS Wireless, NeoWorld Communications, and Digital Television Services. Columbia Capital has also currently invested in numerous leading mobile and media companies including MetroPCS, Mobile Satellite Ventures, Revol Wireless, Coral Wireless, SiTV, Freewebs, and Turbine. For more information, visit Columbia Capital at http://www.colcap.com/.

About Gizmoz

Founded in 2003, Gizmoz offers consumers a new generation of character-based visual expression for use across their digital lives. The Gizmoz service makes it easy to create, customize, animate and share photorealistic 3D talking characters and videos that allow consumers to communicate and express themselves in more realistic and imaginative ways. Gizmoz is funded by Benchmark Capital, Columbia Capital and Jagen, with offices in Menlo Park, CA and Israel. For more information, visit http://www.gizmoz.com/.