High-definition video calling startup Wham! announced today a $3 million dollar Series A investment lead by Santa Monica’s Palomar Ventures. While Wham! representatives have still not responded to my calls about what exactly their as-of-yet-un-launched Vuu product is (the press release says “product undisclosed”), I’m assuming it’s some kind of consumer-focused, video-call-optimized phone — based on the WhamInc.com website images and copy.
Founded by Matthew Shoemake, Wham! will be using the new financing to accelerate its product launch in 2011, pouring the money into marketing and software engineering. Whatever the final Wham! “revolutionary video product with a friends and family value proposition” is, it faces stiff competition from Apple’s Facetime and web-based services like Skype and TokBox, which already make video calling from home as simple and inexpensive as possible.
Wham! has $4.5 million in funding to date from seed investors, the Texas Emerging Technology Fund, the North Texas Angel Network and Palomar Ventures.
Wham!, Inc. is a new communications product company that is building a revolutionary video product with a friends and family value proposition. Wham! is targeting the home environment with its easy to use solutions.
Palomar Ventures was launched in 1999 by veteran venture capitalists to focus on early stage information technology companies that demonstrate the potential for exceptional growth and market leadership. The founding principle of Palomar is teamwork; they work closely with their portfolio companies to assist them in achieving their objectives. The partners at Palomar have contributed their strategic insight, network of corporate relationships, and recruiting skills to assist in building nearly 50 public companies. Palomar Ventures is currently investing Palomar III,...