Momail raises $5.4 million in funding

Momail continues to lead the market by closing its latest funding round according to plan. The proceeds will be used to open up new markets and to further enhance its consumer focused mobile email solution.

Stockholm – January 22, 2008. Momail announced today the successful closure of its first round of funding, valued at SEK 35 million ($5.4 million). Proving the broad appeal of the Momail mobile email solution, investors include respected institutions such as the Swedish 6th Pension Fund and Bonnier Invest, as well as individual investors from Sweden, England, Russia and South Africa.

” We are grateful and proud of our investor’s confidence despite uncertainties in the financial markets. As mobile email is a quickly growing segment of the market, and Momail offers a unique and easy solution for this market with its patented in-house server-side technology, the company attracts many interested parties in the market,” says Roger Grönberg, CEO of Momail.

“The new funding will enable Momail to expand into new markets as well as to further enhance product development to make Momail even easier to use for the delivery of email, pictures, documents and other digital content via mobile handsets. Not only do we continue to experience ever greater numbers of consumers becoming avid Momail users, but we have also received strong interest from, operators, ISP’s and communities around the world for partnership opportunities so that they can also offer Momail’s market leading mobile email solution to their customers,” says Roger Grönberg.

Momail’s MMOPE (Mobile Message Optimization and Protection Engine) technique optimizes all mobile data transmitted through its system, including attachments. This functionality speeds up data transmission, while also saving up to 99 percent of the data sent to the mobile device. Unlike most mobile email solutions on the market today which use a special mobile client or complicated downloads, Momail leverages the built-in email support provided in most of today’s mobile phones, in order to simplify the installation and use of mobile email. By using this unique approach Momail has quickly become the market leader in number of devices supported - today over 1000.

Availability
Momail works on all mobiles with built-in email support, today numbering more than 1,000 different models. The service is currently available in the UK, Germany and in all Nordic countries. Many more countries will be added 2008, beginning with Poland. Free registration is available via the mobile or Internet at www.momail.com.

More information
Lars Aase, mobile +46 701 44 18 22, lars.aase@momail.com
Julie Meyer, office +44 207 653 0204, Julie@ariadnecapital.com

About Momail
Momail is focused on offering a free and global e-mail service for mobile devices. Through patented in-house developed technology, Momail makes a reality of optimal mobile communication for all mobile devices. Via a growing network of partners offering mobile services based on Momail’s products and technology, Momail’s vision is for mobile email communication to be synonymous with - Momail. To learn more visit www.momail.com.