First Institutional Round of $8 million

SundaySky Ltd., a revolutionary digital video generation solution provider announced today that it has completed an $8 million Series A round of funding led by Carmel Ventures and Globespan Capital Partners. Avi Zeevi, General Partner of Carmel Ventures and Jonathan Seelig, Managing Director of Globespan Capital Partners have joined the Companys board of directors.

Founded in 2006, SundaySky provides real time, personalized and automatic generation of video for e-commerce, social networks, news and entertainment web sites. SundaySkys platform enables websites to automatically convert their content into dynamic, continuously updated, high quality video clips. SundaySky enabled websites to significantly increase the appeal of their content, stickiness of their site and their conversion rates while creating a significant inventory of video ads.

SundaySkys CEO, Mr. Shmulik Weller, said that this round of investment will allow the company to rapidly expand its marketing, sales and business development activities mainly in the US while continuing to develop its product line. “The effectiveness of video on the web and its growing need, open great opportunities for SundaySky”, said Weller, “and we are thrilled to have investors like Carmel and Globespan who have proven track records in this field.”

“Video is becoming the most important and fast growing form of web media. said Mr. Avi Zeevi of Carmel Ventures. “We found SundaySky to have a unique combination of an outstanding founding team and a breakthrough technology which can change the way video content is created.

Jonathan Seelig of Globespan said: When I first saw SundaySkys technology, I had the same feeling that I had when I was shown my first dynamically generated web page a full decade ago. At the time, I thought that dynamic web pages would revolutionize the web and they did. SundaySky is in a position to do the same thing for web video content.

About Carmel Ventures
With over $600 million currently under management, several successful exits, and a growing portfolio of promising start-ups, Carmel is among Israels top-tier venture capital funds. Carmels investments are focused primarily on early stage companies in the fields of Software, Communications, Internet, Media, Semiconductors, and Consumer Electronics. Founded in 2000 by pioneers and leaders of the Israeli high tech industry, Carmel provides significant capital and active, hands-on support through the growth cycle of its portfolio companies and is recognized as a true company building fund in Israel. Carmel, headquartered in Herzliya, Israel enjoys a worldwide network of industry, strategic and investment resources.
Carmel is an affiliate of the Viola Partners Group, a leading innovative private equity investment group with over $1.8B under management focused on technology-based investment opportunities in Israel. For more information, please visit www.carmelventures.com.

About Globespan Capital Partners:
Globespan Capital Partners is a leading global venture capital firm with over $1 billion under active management. Globespan takes a balanced approach to investing with multi-stage investments in information technology and cleantech companies. Our investment team has a proven track record based on partnering with management teams to build strong, successful companies. We have significant experience and relationships in Asia which allows us to provide our portfolio companies access to global markets. With offices in Boston, Palo Alto and Tokyo, we invest in companies across the U.S. and in Japan on behalf of a global base of limited partners.
Since 1996, the Globespan team has invested in more than 125 companies. Portfolio companies that have gone public include: Airgate PCS, Avanex, BladeLogic, Brocade, Clearwire, Flexi International, Glu Mobile, Net Perceptions, ShoreTel, Silknet Software, Virtusa, and Vixel. Acquired portfolio companies include: Aptis, Argon, CDS, Cerulean, Digital Island, edocs, enCommerce, m-Qube, Monterey, Obsidian, Ocular Networks, Pirus, Plaxo, Sentient, and Trigo. For more information, please visit www.globespancaptial.com.

Source: SundaySky