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Monday, June 11, 2007

Me.dium Secures $15 Million Investment Round Led by Commonwealth Capital Ventures

Me.dium, a consumer software company, today announced that it has secured $15 million in Series B funding. The round was led by Waltham, MA-based Commonwealth Capital Ventures. Existing investors, Spark Capital, Appian Ventures, and noted investor Brad Feld also participated in this funding round. Commonwealth Capital Ventures also joins original Me.dium investor, Paypal Founder, Elon Musk.

This latest round raises Me.dium's total funding to $20 million since being founded in June of 2006. Me.dium reveals the hidden world of people and activity behind the browser, building a new Social Exploration Environment (SEE) for the Web. The funding will be used to build out the infrastructure to support its launch to the general public later this year.

"We believe Me.dium is pioneering the next phase of social interaction on the Web," said Elliott Katzman, general partner with Commonwealth Capital Ventures, who will join the Board of Directors at Me.dium. "With a proven technology and a world-class management team, Me.dium is well-positioned to lead this exciting new category."

"Me.dium has tremendous potential to change the way people experience the Internet, and the response from the private beta was phenomenal." said Santo Politi, General Partner with Spark Capital. "We are very excited to be a part of Me.dium."

"Commonwealth Capital Ventures clearly shared our vision on the evolution of how people will interact online," said Kimbal Musk, CEO, Me.dium. "We are excited to have them lead this round and join our existing investor team. Their proven understanding of the consumer was critical in our financing decision and was a clear value Commonwealth brought to the table."

Along with closing this funding round, Me.dium recently rolled out a major upgrade. The new version helps bring the social and contextual value people expect in the real world into their online experience. Me.dium's new user- interface, built by famed designer Neville Brody, combines two of the most often requested features into one interface. Now, Me.dium allows you see what your friends are doing online and truly surf together, as well as meet and interact with other people doing the same things as you.

As always, Me.dium gives the user complete control over where, when and with whom they share their information, as well as the ability to turn Me.dium on and off quickly and easily. By giving the user easy and obvious control, Me.dium puts the power in the users' hands for the first time to decide when they would like to share their information in return for clear and unique value.

About Commonwealth Capital Ventures

Commonwealth Capital Ventures (Waltham, MA) is a venture capital firm focused on software and services, communications technology, and instruments and systems investments in the Northeastern United States. The Partnership's collaborative, team-based investment approach brings the deep venture and operating expertise, experience, and contacts of the entire firm to bear to help every portfolio company be successful throughout all stages of their company's lifecycle. Since its inception in 1995, Commonwealth's partners have invested in more than 130 high-growth companies, many of which are leaders in their respective industry categories. The Partnership's limited partners are highly sophisticated venture investors and include leading endowments, foundations, family offices, and financial organizations. The firm currently manages over $580 million of committed capital across four funds. For more information, visit

About Spark Capital

Spark Capital is a venture capital fund investing in ideas, entrepreneurs and companies building businesses that transform the distribution, management and monetization of media and content. Spark's General Partners are successful natives of the media and technology industries and have proven track records identifying and actively building market-leading companies in sectors including infrastructure (Qtera, RiverDelta, Aether Systems, Broadbus and BigBand), networks (College Sports Television, TVONE and XCOM) and content delivery systems (Akamai). With deep relationships in technology and media, investing and operations, Spark Capital is uniquely positioned to provide world-class entrepreneurs and revolutionary companies with the intelligence, network and resources needed to succeed in today's marketplace. With $260 million in funding, Spark Capital is focused on investment strategies that are at the nexus of content, distribution and technology. To learn more, visit

About Appian Ventures

Appian Ventures is a Denver-based venture capital firm that invests in "Applied Connectivity" -- software and technologies that exploit network connectivity to improve business performance. Investing at seed, early and growth stages, Appian's practice is to connect with entrepreneurs by treating them respectfully and their ideas thoughtfully. The firm's whole-company investment method sharpens a company's business focus and connects industry resources to help accelerate success. Active portfolio companies currently span six Western U.S. states and include Auctionpay, Carefx, Collective Intellect, ETI, IP Commerce, Me.dium, OpenLogic, Oxlo Systems, Me.dium, Ping Identity, Selero, Skyetek, Tendril, Valen Technologies, and Thought Equity Motion among others. For more information, please visit

About Me.dium

Founded in 2006 in Boulder, Colorado, Me.dium reveals the hidden world of people and activity behind your browser. Me.dium is a consumer software company offering an Internet browser extension that allows the user to see what other people are doing online and to interact with these people in real time. By revealing this new Social Exploration Environment TM (SEE), Me.dium graphically connects users with others doing similar things, allows them to browse the Internet with their friends and enables users to interact with others in their community, similarly to how one interacts with people in the real world.

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