Slater Technology Fund Invests in Web 2.0 Monetization Firm

WaveSyndicate Developing Software for Digital Publishers, Advertisers and Content Owners to Capitalize on the Blogosphere

Providence, R.I., October 6, 2008 – The Slater Technology Fund today announced that it has committed $350,000 in seed funding to Providence-based software developer WaveSyndicate. The digital media analysis and syndication company will use the investment to further product development for its current early-stage customers and work toward wider release by year-end.

WaveSyndicate helps bloggers and web site operators, the “curators of content,” attract and retain their valuable online visitors. The firm’s software enables these publishers to enrich media such as audio and video with links to other content (ecommerce catalogs, for example), create compelling calls-to-action that increase the effectiveness of advertising, and understand and optimize the value of media as it is consumed by a distributed online audience.

WaveSyndicate is led by Jared Rosoff, a Brown graduate and founder of telecom policy management company TAZZ Networks, and Bob Chatham, former CMO of web analytics vendor Visual Sciences (acquired by Omniture) and Principal Analyst at Forrester Research.

“WaveSyndicate brings together two of the most creative and capable technology entrepreneurs I’ve met, with skills and experiences that are both deep, and complementary,” said Thorne Sparkman, managing director of the Slater Technology Fun. “It’s been exciting to watch them from close range as they create a market solution that harnesses the enormous potential of embedded media. We’re still in the early days of video online, and as is typical, I think the business models will shift as the industry evolves. I’m expecting a new batch of winners and that some big companies will be created from scratch. I’m betting that this will be one.”

“Slater’s commitment to WaveSyndicate has been invaluable to our growth,” said co-founder Bob Chatham. “As we continue to expand our roster of customers and look toward wide adoption of our software platform, we have been aided tremendously by the support provided by Slater’s financial, business and intellectual resources.”

About Slater Technology Fund
The Slater Technology Fund is a state-backed venture capital fund that invests in new companies committed to basing and building their businesses in Rhode Island. Slater focuses its resources on the support of entrepreneurs who have the vision, leadership and commitment to build substantial commercial enterprises. Slater typically invests at the inception stage in the development of a new venture, often based upon ideas and technologies originating in academic institutions and/or government research laboratories located within the region. In most cases, investments are premised upon the possibility of raising substantial follow-on financing, from venture capital investors or from strategic partners, with a view toward accelerating the generation of significant numbers of high-value, high-wage jobs over the intermediate to longer-term. For more information, visit www.slaterfund.com.

For More Information:

For more information, contact:
Laura Nelson or Kaycee Roberts
SVM Public Relations
401-490-9700
laura.nelson@svmpr.com
kaycee.roberts@svmpr.com