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OpenPeak Raises $30 Million

OpenPeak Inc., a Boca Raton, Fla.-based provider of a touch screen interface and software that integrates telephony, Internet content and digital media on a single device, has raised $30 million in Series C funding. Return backers include RRE Ventures and Castletop Capital. Get more info.

 

PRESS RELEASE 

 

OpenPeak Inc., a provider of end-to-end system solutions and devices for telephony, digital content and Internet services, announced today that it has closed $30 million in Series C funding. Investors include RRE Ventures and Castletop Capital, both participants in OpenPeak’s initial funding rounds. The new funds will be used to support the manufacture and market launch of OpenPeak’s new OpenFrame� line of devices. 

 

The revolutionary OpenFrame� solution re-invents the “home phone” with a touch screen interface and custom software that integrates telephony, internet content, and digital media on a single device. This innovative approach complements family PC, TV and mobile phones and is built on OpenPeak’s core technology for channeling control of disparate content and services for easy access and management.  OpenPeak provides end-to-end solutions from industrial design and user interfaces to custom software and finished products.

 

“OpenPeak’s compelling OpenFrame� solution is capable of transforming the home telephone into the ‘third screen’ in the home,” said John Sculley, who participated in the OpenPeak Series C round. “We believe that the impact of OpenFrame� can be as revolutionary to the home phone as the latest generations of Smartphone were to the mobile phone industry.”

 

“Our mission is to create systems and devices that simplify the organization and control of communication, information and digital content in the home,” said Dan Gittleman, CEO of OpenPeak. “OpenFrame� creates a new category of products that consolidate and simplify telephony, text, and digital content access on home-based devices.”

 

OpenPeak investors include John Sculley, former CEO of Apple and Pepsi-Cola; Mort Topfer, former Vice Chairman of Dell and Executive VP Motorola; and J. Tomilson Hill III, Vice Chairman of The Blackstone Group, RRE Ventures and Castletop Capital.

 

About OpenPeak

OpenPeak Inc. creates, designs, and develops innovative communication systems and devices that enable simple user control of VoIP telephony, digital media, Internet content, messaging applications, and consumer electronics. OEMs benefit from OpenPeak’s portable architecture, hardware reference designs, and turnkey solutions because they allow quick and cost-effective integration of advanced communication and control technology and applications into their platforms with a high degree of customization. The company headquarters is in Boca Raton, Florida and on the web at www.openpeak.com.

 

 

 

About RRE Ventures:
Since its founding in 1994, RRE Ventures has been dedicated to helping talented management teams build leading companies in the software, communications, and financial services industries. With $850 million in assets, the firm backs entrepreneurs and management teams that possess the knowledge, vision, and discipline to create market-dominating companies. RRE’s team offers a unique combination of management, operations, and investment expertises, as well as an unrivaled network of relationships, that has helped build over 90 companies. For more information, visit www.rre.com.

 

About Castletop Capital

Co-founded in 2000 by Mort Topfer, Alan Topfer and Richard Topfer, Castletop Capital has committed capital resources of $100 million, with a primary focus on real estate investments. In addition, we invest in venture-backed technology, software and business infrastructure companies and publicly traded enterprises. Collectively, our managing directors possess more than 70 years of operational experience, adding significant value to our investments.