Tira Wireless Secures US$13 Million In Funding

Author: Tira

SAN FRANCISCO - March 16, 2006 - Tira Wireless, the premier provider of advanced technology for mobile content deployment, today announced the company has secured US$13 million in Series C funding. The new investment, led by Lehman Ventures and joined by existing investors Brightspark Ventures, Flagship Ventures and Export Development Canada, will be used to round out Tira's Jump platform to include all data types including music and video; and expand the company's global support and distribution.

"Tira's unique approach to content deployment, developed from three years of experience preparing content for major publishers, was critical to our decision to invest," said Tom Banahan, Managing Director of Lehman Ventures. "The company's ability to productize this experience adapting technical content, refining the deployment process and managing digital assets into the Tira Jump Product Suite is unparalleled in the industry." In conjunction with the funding, Tom Banahan has also joined the Tira board of directors.

The Tira Jump platform, based on patent-pending technology manages the entire set of deployment processes of mobile data including planning, adaptation, optimization, localization, quality assurance, certification, carrier and portal packaging.

Using the Tira Jump platform fundamentally lowers the total cost of mobile content deployment by two thirds while enabling mobile data publishers complete management, reliability, consistency and process control through Jump's integrated Workflow and Asset Management engines. The award-winning Tira Jump technology platform combines in-depth knowledge of mobile content deployment processes with the most powerful and flexible features of digital asset management and workflow systems.

"As Tira's first investor, we have been able to watch Tira grow into the market leader in mobile content deployment," said Mark Skapinker, Chairman of Tira Wireless, and Managing Partner with Brightspark Ventures. "This additional capital provides the resources needed to dominate this ever expanding market."

Offered for license or as a service through Tira Wireless, the Tira Jump Product Suite enables mobile content developers and publishers to control, adapt, optimize and deploy mobile applications across more than 500 different handsets. To date more than 80 percent of the world's leading mobile content publishers have used Tira Jump technology to create and deploy top selling mobile games and applications in multiple languages. The platform currently handles mobile Java and BREW applications for all carriers in North America and Western Europe and some parts of Asia.

"Our customers rely on our years of experience and platform knowledge not only to speed time to market, but also to help them manage and control the entire mobile content deployment process" said Doug Barre, CEO of Tira Wireless Inc. "This additional funding will enable us to accelerate the expansion of our platform and our global distribution footprint."

About Tira Wireless

Tira Wireless is the premier provider of advanced technology for mobile content deployment. Tira's proprietary technology - the Tira Jump Product Suite - enables mobile content providers to efficiently control, adapt and deploy content across a broad range of handsets, languages and operator networks. By combining in-depth knowledge of mobile content deployment with the most powerful and flexible features of digital asset management and workflow systems, Tira Jump enables mobile content providers to optimize process efficiencies and maximize resource utilization. Tira's customers include Disney Mobile Studios, Warner Bros., Sony Pictures Mobile, THQ Wireless, T-Mobile, and TELUS Mobility. For more information visit www.tirawireless.com.

About Lehman Brothers

Lehman Brothers (ticker symbol NYSE: LEH), an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients, and individuals worldwide. Founded in 1850, Lehman Brothers maintains leadership positions in equity and fixed income sales, trading and research, investment banking, private equity, asset management and private client services. The Firm is headquartered in New York, London, and Tokyo and operates in a network of offices around the world. Lehman Brothers Venture Partners, established in 1995, targets mid- to later-stage venture capital investments in companies capable of turning innovative technology solutions into successful businesses. For further information about Lehman Brothers' services, products, and recruitment opportunities, visit our Web site at www.lehman.com.

About Brightspark Ventures

Brightspark is a leading early-stage software venture fund. Brightspark works closely with entrepreneurs to develop and build market-leading software companies. Brightspark's innovative investment approach focuses on working closely with early-stage companies through their development and growth phase. Brightspark's team brings years of investment and technology expertise in creating and operating software companies in the areas of application and infrastructure software, enterprise software and communications software. Brightspark's investments range from "concept" stage companies, led by domain experts looking to commercialize an idea or technology, to working with experienced entrepreneurs looking to scale their existing businesses. With offices in Toronto and Montreal, Brightspark is backed by leading institutional investors who share its approach to early-stage software investing.

About Flagship Ventures

Flagship Ventures is an early-stage venture capital firm focused on creating, financing, and building innovative companies in the Life Science and Technology sectors. Headquartered in Cambridge, MA, Flagship Ventures was founded in 1999 and manages $700 million in capital. Prior to its founding, Flagship's principals were involved as founders or investors in over 100 firms including: Adolor, AltaVista, Anesta, Antigenics, Aspect Medical, Astral Point, Celera Genomics, ChemGenics Pharmaceuticals, Color Kinetics, Chantry Networks, Cytyc, DataSage, Exact Sciences, IDEXX, PerSeptive Biosystems, Somatogen, Telecorp PCS and TripAdvisor. For more information, visit www.flagshipventures.com.

About Export Development Canada

EDC is Canada's export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC's knowledge and partnerships are used by 7,000 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining and is a recognized leader in financial reporting, economic analysis and human resource management.