Oakland-Based Livescribe Raises $7.5 Million; Second Round in Month

Oakland -- Livescribe, the Oakland-based developer of a mobile computing "smartpen" that records and links audio to handwriting, said on Monday that it has raised $7.5 million in its second round of funding from Switzerland's Aeris Capital. The news comes just a month after the company also secured $11.1 million in its first round, co-led by Vantage Point Ventures Partners and Lionhart Investments. The company expects to use a large part of the capital to bolster the marketing efforts for its core Pulse smartpen producvt. "Our focus in 2009 is to increase awareness of Pulse and put it within reach of millions of online and retail shoppers," said Jim Marggraff, the company's founder and CEO. The company said that it also plans to launch an online application store; expand internationally through partnerships in Australia, Korea, Singapore, Malaysia and the U.K.; and increase its focus towards professionals in healthcare, law, journalism, education and sales.
http://www.livescribe.com
http://www.livescribe.com/press/releases/release_090330.html