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Cloudbot Secures Investment from Lightbank

2011-10-05
Developers of a new mobile and web app closed a round of outside venture capital from Lightbank, the Chicago-based technology investment fund, with participation from Draper Associates and Hyde Park Angels.
CHICAGO, IL, Cloudbot, developers of a new mobile and web app that aggregates users' online presence into a single interface, today announced it has closed a round of outside venture capital from Lightbank, the Chicago-based technology investment fund, with participation from Draper Associates and Hyde Park Angels.

Cloudbot helps manage the large number of profiles, contacts and activities users maintain across multiple applications by bringing all of their social activity together into a single user interface. Cloudbot eliminates the scattered, segmented data silos that have erupted as apps have exploded in popularity. In addition, Cloudbot's universal address book and integrated social connections, makes it easy to call, email, send a Facebook or LinkedIn message, post a Tweet, share a document via DropBox or GoogleDocs, schedule a meeting, and more.

Cloudbot co-founders, Agam Patel and Colin Young, met at Chicago's Startup Weekend in November 2010 and created the original concept for Cloudbot that same weekend. After winning first place, they were soon accepted into the AngelPad incubator in San Francisco.

Lightbank is leading the funding round and lending its commercialization expertise to the team's product capabilities.

"We've seen an incredible number of new apps and social tools come to market in the last few years, to the point that it can sometimes feel overwhelming to manage it all. Cloudbot does something truly unique - it actually makes all of these social tools more powerful, yet easier to use at the same time," said Paul Lee, Partner at Lightbank. "It definitely has potential to infiltrate the entire social web, and we're eager to bring it to full launch."

"As people have become increasingly reliant on the cloud in its various forms, there is tremendous potential for Cloudbot to help make sense of it all and provide a richer, more integrated user experience," Patel said. "We are extremely pleased for the opportunity to work with the experts at Lightbank to ready our platform for full-scale roll out."

About Cloudbot

Cloudbot is bringing clarity to the cloud with a mobile and web application that aggregates users' personal profiles, contacts and activities across multiple web services and social networks into a single interface that makes it easier to stay in touch, organized and in control of personal data online. Founded in 2010 at the Chicago Startup Weekend Competition, the company is headquartered in Chicago. For more information, visit www.cloudbot.com.

About Lightbank

Lightbank is an investment fund focused on early-stage technology companies. Founded by Eric Lefkofsky and Brad Keywell, who started Groupon, MediaBank, InnerWorkings (NASDAQ:INWK) and Echo Global Logistics (NASDAQ:ECHO), Lightbank invests money, time and expertise to help innovative businesses achieve dynamic growth. For more information, visit http://www.lightbank.com.

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