Durham, NC — Jud Bowman, co-founder of Motricity, announced today the creation of his new venture, PocketGear, and the acquisition of the smartphone applications business from Motricity. The company also announced today that it has received investment from leading venture capital firms Noro-Moseley Partners and Wakefield Group.
PocketGear provides a platform connecting millions of people around the world with smartphone applications from a network of more than 30,000 developers. PocketGear powers smartphone application distribution for direct channels including PocketGear.com, SymbianGear.com, PalmGear.com, Smartphone.net, and Mobile2Day.de and for more than 15 partners including Palm, Sony Ericsson, Sprint, T-Online, and AOL. Since its inception, PocketGear has powered more than 100 million downloads to smartphones and mobile devices from a catalog of more than 50,000 applications.
“Mobile phones are increasingly smartphones that run advanced operating systems such as Palm OS, Windows Mobile, BlackBerry, Symbian OS or Linux, and Apple’s iPhone and Google’s Android are helping accelerate smartphone adoption,” said Jud Bowman, President and CEO of PocketGear. “The smartphone application market is poised for significant growth, and PocketGear is a platform that connects more than 30,000 developers of smartphone applications with millions of smartphone users around the world.”
The new company will be headquartered in Durham, North Carolina with offices in Munich, Germany.
“While it’s difficult to leave Motricity, I’m incredibly excited about the opportunity to lead PocketGear and build a great company based in the Research Triangle Park area of North Carolina,” said Bowman.
PocketGear also announced that Mike Elliott, General Partner at Noro-Moseley Partners, and Steve Nelson, Managing Director of Wakefield Group, have joined PocketGear’s board of directors.
“Noro-Moseley backs great entrepreneurs and we couldn’t be more excited to invest in Jud Bowman and PocketGear,” said Mike Elliott, General Partner at Noro-Moseley Partners. “We believe the market for smartphone content and applications is set for exponential growth and that PocketGear’s technology, customers, and developer community are perfectly positioned to capture this opportunity.”
“I’ve had the chance to know and work closely with Jud Bowman for the past eight years in helping build Motricity,” said Steve Nelson, Managing Director of Wakefield Group. “I couldn’t be more excited about the chance to do it again and help build PocketGear into one of the largest providers of content and applications for smartphones.”