Rocky Hill, Conn., January 2, 2008 – Connecticut Innovations (CI), the state’s quasi-public authority responsible for technology investing and innovation development, today announced that it has provided seed funding of $500,000 to frevvo Inc., through its Seed Investment Fund.
Located in the New Haven, Conn., area frevvo is an innovative Internet application for creating multi-functional, Ajax forms using just a web browser. The seed investment in frevvo marks the fourth such investment since Connecticut Innovations launched its Seed Investment Fund in February 2007.
“In addition to vital funding, CI supports technology entrepreneurs with the operational and strategic experience that is so critical for growing early stage companies like frevvo,” said Ashish Deshpande, CEO of frevvo, Inc. “Frevvo is already benefiting from CI’s in-depth understanding of the dynamics of early stage investing as well as from their network within Connecticut and beyond.”
CI’s funding will be used to help frevvo further develop and market its Live Forms product, which already is in use at several customer locations. Using frevvo, one can build rich, Web 2.0 forms for real business applications that provide a rich user experience far beyond that of typical web forms. Forms built using Frevvo can easily be added to web sites and because of the SaaS model, all anyone would need is a web browser to create and deploy professional forms in minutes.
Frevvo forms are also XML-aware, support business rules, work with your data and meet the demands of real business applications. Frevvo Live Form is competitively priced and offers both the enterprise and SMB markets an attractive alternative to hand building forms and higher priced form-building tools.
Peter Longo, CI president and executive director, commented, “CI is pleased to be supporting a company founded by an experienced team of entrepreneurs – a team that also helped to launch another technology company that got its start with CI funding.” Longo added, “The entrepreneurial spirit is alive and flourishing in the state, as evidenced by our active pipeline of companies seeking funding, which has yielded eleven new investments for us since July and four seed-stage investments in the past year, including our most recent investment in frevvo.”
“CI’s support of frevvo reinforces its role as a leader in nurturing early-stage, technology-oriented companies in our state,” said Governor M. Jodi Rell. “Only with such support can we continue to create high-paying job opportunities for our talented workforce and stay competitive in the increasingly technology-oriented global marketplace.”
About Connecticut Innovations, Inc.
Connecticut Innovations (CI) is a quasi-public organization dedicated to driving a vibrant, entrepreneurial, technology-based economy in Connecticut. CI stimulates high-tech growth by investing in: early-stage Connecticut technology companies; university/industry research collaborations; technology transfer; and, clean energy initiatives through the Connecticut Clean Energy Fund. CI also fosters collaboration among government, business, nonprofit and academic organizations to advance technology growth and promotes public policies consistent with CI’s mission. For more information on CI, please visit www.ctinnovations.com.
About Frevvo Inc.
Frevvo leverages Ajax technologies to allow customers to easily create rich, dynamic, Web 2.0 forms using just a browser. These forms satisfy the demands of real business applications – they are XML-aware and support sophisticated layouts and business rules. Furthermore, Frevvo forms provide a rich user experience that is far beyond typical forms-based applications and can dramatically improve the usability of web applications. Frevvo bridges an existing gap by offering forms that satisfy the requirements of web integration projects at a cost that fits into the budgets of these projects. Frevvo offers a real alternative to hand-building forms that simply did not exist before.
For more information on frevvo, please visit www.frevvo.com.
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