Open Kernel Labs Attracts $7.6 Million in Venture Funding

January 14, 2009

Embedded Virtualization Leader Garners Multiple Investments and Backing by Virtualization Technology Leader, Citrix Systems

Chicago - January 15, 2009 - Open Kernel Labs (Open Kernel Labs), the leading provider of embedded virtualization software for mobile phones and broadband internet devices, announced today that the company has closed a significant round of funding with investments from venture capital firms Chrysalis Ventures and Neo Technology Ventures and from Citrix® Systems, Inc., the global leader in application delivery infrastructure. Open Kernel Labs will use this investment to fund global expansion of its research and development and business channels, establishing further regional support throughout Asia, Europe and the Americas.

Venture Capital Confidence in Open Kernel Labs and Embedded Virtualization
This investment occurs at a time when most funding sources are contracting, highlighting the potential for the Open Kernel Labs market opportunity. The company’s market-leading embedded hypervisor, OKL4, is already deployed in 250 million handsets and other mobile/embedded devices worldwide.

Leading the round, Chrysalis Ventures’ investment validates Open Kernel Labs market position and viability. Open Kernel Labs will also benefit from the expertise and experience of Chrysalis Ventures partners like John Willmoth, former senior executive at Sprint Nextel.  Joining Chrysalis, Neo Technology Ventures increases its stake in Open Kernel Labs, a testimony to the growth prospects of Open Kernel Labs in local capital markets and in the global technology marketplace.

End-to-End Virtualization – Citrix Strategic Investment
Citrix, the enterprise application delivery leader, has also invested in Open Kernel Labs. This complements investments made by Chrysalis and Neo Ventures.   The combination of the Citrix virtualization-based application delivery infrastructure and OKL4 ushers in the industry’s next wave of application and services solutions.  Together, Citrix and Open Kernel Labs provide a secure and robust end-to-end applications delivery platform for the entire mobile/internet ecosystem – including mobile chipset suppliers, intelligent device OEMs (original equipment manufacturers) and MNOs (mobile network operators), as well as global carriers, small and medium businesses and global enterprises.

Supporting Quotes

Open Kernel Labs (www.ok-labs.com):  “As handset OEMs and semiconductor suppliers create the next generation of faster and more capable wireless devices, virtualization will play an increasingly critical role in addressing the key challenges of BOM cost and meeting security and reliability requirements,” commented Steve Subar, Open Kernel Labs CEO. “With this investment, Open Kernel Labs is positioned to amplify our unique position as the only embedded virtualization solution shipping on handsets today, solidifying its position as a key supplier to the supply chain driving the wireless ecosystem.”

  • Chrysalis Ventures (www.chrysalisventures.com): “The opportunity for embedded virtualization is clear – over one billion mobile handsets and hundreds of millions of other connected intelligent devices are sold annually,” stated John Willmoth, Venture Partner at Chrysalis Ventures.  “Recently, we have seen greater emphasis on the operating system and software aspects of mobile devices, as evidenced by the increase in the number and diversity of smartphone devices and applications.  Open Kernel Labs has proven technology that enables device manufacturers to manage this complexity in a more timely, secure and cost effective manner, and is a great fit for the Chrysalis portfolio of media and communications investments.”
  • Citrix Systems (www.citrix.com): “Our investment in Open Kernel Labs demonstrates our belief that virtualization will act as a catalyst for optimized application delivery to a large and growing class of mobile devices,” noted Michael Cristinziano, Citrix Corporate VP, Strategic Development.  “Together, Open Kernel Labs and Citrix can further enable businesses to extend enterprise applications beyond the desktop, to reach a worldwide community of mobile business people and wireless end users.”
  • Neo Technology Ventures (www.ntfund.com): “Open Kernel Labs continues to impress our partners with its core technology, its reach into global markets, and with its sustainable business model, even in today’s challenging global economy,” said Marc Woodward, General Partner, Neo Technology Ventures. “Neo Technology’s funding will further substantiate Open Kernel Labs solid leadership position in embedded virtualization by accelerating their product roadmap and delivery of their key enabling technology to handset OEMs and mobile operators in Asia, Europe and North America.

”About Open Kernel Labs":

The Open Kernel Labs leading technology in embedded systems software and virtualization enables the development of safe, trustworthy and affordable devices. Backed by the largest, independent team of microkernel developers, Open Kernel Labs delivers OKL4, an advanced microkernel solution, which offers the highest performance combined with strong protection and security features. OKL4 provides developers with a robust, open source platform for building secure, differentiated embedded applications. For more information about Open Kernel Labs and its products visit www.ok-labs.com. Open Kernel Labs is a spin out from NICTA, Australia’s preeminent Center of Excellence for information and communications technology, http://nicta.com.au/.

For information on the OK Community, please visit the Community Portal at www.ok-labs.com/community/community-portal. Participants can join the Developer's Mailing List at http://www.ok-labs.com/community/mailing-list-signup.

Open Kernel Labs, Open Kernel Labs and Secure HyperCell are trademarks or registered trademarks of Open Kernel Labs or its affiliates in the U.S. and other countries. Other names may be trademarks of their respective owners.

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Chris Walker
Connect Public Relations
(801) 373-7888
chrisw@connectpr.com

Marti Konstant
Open Kernel Labs
(312) 933-0101
marti@ok-labs.com

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