Livio Investors Ante Up with Series C Funding
DETROIT, Aug. 14, 2012 /PRNewswire/ — Livio, manufacturer and developer of connected car products and smartphone app connectivity solutions through Livio Connect, today announced the closing of its Series C financing round with Beringea, Western Technology Investment, Angel Street Capital, North Coast Technology Investors and Invest Detroit’s First Step Fund, in addition to various Angel investors.
“This funding is our way of showing that Livio is serious about getting apps into cars and consumer electronics. Livio is getting bigger, making the roads safer and changing the way people access Smartphone applications with Livio Connect,” said Jake Sigal, Livio founder and CEO.
The Livio Connect API enables users to control smartphone apps through the physical buttons on enabled car stereos and consumer electronics. This technology allows for more infotainment options, less work for consumers to use them and less work for automotive OEM’s and consumer electronics manufacturers to integrate them. The Livio Connect API can also be found inside the Bluetooth Internet Radio Car Kit available at Walmart.
“The Livio team has made excellent progress, working with some of the biggest companies in the world. The company helps bring a more fun, useful and engaging customer experience into our vehicles and homes by leveraging the computing power of our smartphones through their app connectivity solutions,” said Jeff Bocan, managing director at Beringea.
Metro-Detroit-based Livio was built in the guest bedroom of Livio Radio founder and CEO Jake Sigal’s home in 2008 on the foundation of “More Music, Less Work.” Today, those words remain more than a catchy slogan. It’s a philosophy, a way of life that drives Livio employees and a growing list of breakthrough products. Whether they’re moving technology forward with products sold under the Livio Radio consumer brand or creating common-sense solutions for business customers through Livio Connect, a day’s work at Livio means everybody hustles. It’s about streamlined engineering, fewer headaches for their customers, and putting an end to unnecessary product hassles. Livio collectively fights above its weight class in the pursuit of American innovation, giving their big-name business partners the freedom to do what they do best. More information can be found at www.LivioConnect.com and www.LivioRadio.com