SIPquest Changes Name, Obtains $7 Million in Funding

SIPquest, a developer of converged multimedia client software for desktop, Wi-Fi, fixed mobile convergence (FMC) and IMS environments, today announced that it has renamed the company FirstHand Technologies and secured $7 million in Series C funding.

“Today, SIP is everywhere in telecom, in enterprise and in the consumer Instant Messaging services; the quest for SIP has been achieved,” said David Hattey, president and CEO of FirstHand Technologies. “The name FirstHand Technologies best speaks to our innovation and leadership position, enabling enterprise communications everywhere.”

BDC Venture Capital led the funding round, with participation from existing investors Covington Capital and Skypoint Capital.

"We are very impressed with the FirstHand management team and their vision for enterprise mobility," said Roch Charbonneau, director at BDC Venture Capital. "Through its innovative product development, FirstHand has the potential to become one of Canada's leading mobile software developers."

"BDC Venture Capital is joining a highly effective venture capital syndicate that includes both Skypoint and Covington," added Hattey. "We have been very fortunate to have such supportive, creative and well-connected venture capitalists investing in our company."

FirstHand said it would be using the Series C funding to accelerate market traction.

FirstHand Technologies www.firsthandtech.com

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