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Jolicloud Announces $4.2M Series A Round From Atomico Ventures and Mangrove Capital Partners.

July 08, 2009

Skype co-founder Niklas Zennström and Gilles Samoun join the board

Paris, France—July 8, 2009—Jolicloud (www.jolicloud.com), the Internet operating system for netbooks, announced today the completion of a $4.2M Series A funding round led by Atomico Ventures, in conjunction with Mangrove Capital Partners. The financing will enable the startup to accelerate the development of the product (currently in private alpha), launch its developer program, and expand its global network of partners.

Jolicloud is the latest company by Tariq Krim, the founder of Netvibes, one of Europe's most successful Web startups. Not just another operating system, Jolicloud transforms netbooks into sophisticated Web devices that tap into the cloud to provide free, open and easy access to a new generation of Web applications.

The world has entered a new era where computers are inexpensive, software is free, and connectivity is everywhere. This trend is slowed down by the numerous restrictions imposed by traditional software-based operating systems. Jolicloud makes the latest generation of Web technologies easily available on the most affordable computers, accelerating the movement to spread the benefits of cloud computing to everyone.

"Traditional operating systems find their roots in the late seventies and are built around software. But today, 90% of our computing life is on the Web. Jolicloud was built with Web users in mind," said Jolicloud founder and CEO Tariq Krim. "This is a project of passion. To make the largest impact, we decided to surround ourselves with people who have real experience in achieving large-scale disruption."

Jolicloud has gained the support of highly accomplished Web pioneers and innovators. Niklas Zennström, co-founder of Atomico Ventures, Skype, Joost, Kazaa and Joltid, will take seat on the board. Michael Jackson, partner at Mangrove Capital Partners and former COO of Skype, will participate as an advisor. Serial entrepreneur Gilles Samoun, CEO of fotonauts and founder of Qualys will also join the board.

"Jolicloud is a classic example of a massive disruptive opportunity in a market where high risk has a potential to lead to a high return. Whoever gets it right will be very successful and this is what we love," said Atomico Ventures co-founder Niklas Zennström. "Tariq’s successful background as a serial entrepreneur makes him well positioned to do this. He's a great example of a new breed of European entrepreneur who is able to think big and execute well."

"Jolicloud is poised to significantly change the way we use computers. The company’s founder is one of those rare people who understands what it takes to build a product with mass appeal. The early prototypes are encouraging and we look forward to being part of an adventure which we hope will bring low cost computing with exceptional ease of use and high functionality to the millions of people who simply find existing products unexciting, expensive or difficult to use," said Mangrove Capital Partners General Partner Michael Jackson.

Jolicloud is currently in private alpha and will be released as a public beta later this year. To learn more about Jolicloud and its developer program, visit http://www.jolicloud.com.

About Jolicloud
www.jolicloud.com

Jolicloud is the Internet OS for the netbook generation. Its mission is to accelerate the accessibility of ultra-low-cost, cloud-based computing to everyone around the world. Through an elegant interface Jolicloud provides free and easy access to the Web's best applications and technologies. Founded in 2009 by Tariq Krim, Jolicloud is based in Paris, France.

About Atomico Ventures
www.atomicoventures.com

Atomico Ventures is focused on supporting European early stage consumer facing technology companies. Founded by Niklas Zennström and Janus Friis, co-founders of multiple successful internet companies, including Skype, Joost, Joltid and Kazaa, Atomico invests in passionate entrepreneurs with disruptive business ideas who want to build tomorrow’s global winners. Atomico has over 20 companies in its portfolio, including Seesmic, Fon, Jawbone, Netlog and Woo Me.

About Mangrove Capital Partners
www.mangrove-vc.com

Mangrove Capital Partners is committed to turn entrepreneurial visions into realities as a means to drive capital appreciation for investors. Our hands-on philosophy in all areas of business and technological development is the cornerstone of our investment strategy and positions us as a true partner for growth. Mangrove Capital Partners has invested in, among others, the following companies: Skype, Zink, Seatwave, Nimbuzz, Brands4Friends and WooMe.

Media Contacts:

Vincent Chang
Jolicloud
(415) 806-1769
press@jolicloud.com

Tom Rayner Tulchan Communications for Atomico Ventures
+44 (0)20 7353 4200
TRayner@tulchangroup.com

Eleanor Lever Mangrove Capital Partners
+352 262534 1
eleanor.lever@mangrove-vc.com

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