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  • Venture Capital Reporter

    December 21st, 2005 No comments

    3am Labs, Inc. the world’s leading provider of remote access and administration services, has closed a Series B round of venture funding totaling $10 million.

    Polaris Venture Partners – an early stage venture capital and growth equity firm that invests in seed, early stage and middle market companies in high growth industries led this round. 3am Labs’ existing investors, which include Prism Venture Partners of Westwood, MA, 3TS Capital Partners of Budapest, Hungary and Integral Capital Partners of Palo Alto, CA. also participated in the round.

    David Barrett, General Partner of Polaris, has joined the 3am Labs Board. “In the past 18 months, more than a million and a half professionals have discovered that LogMeIn’s remote access is an indispensable productivity tool,” said Barrett. “This company has impressively transformed and energized a nascent technology sector and we are excited to help them take their innovation to the next level.”

    “We chose Polaris because we wanted to add an investor with extensive experience in both consumer and communication technology,” said Michael Simon, CEO of 3am Labs. “We are genuinely excited about our pipeline of innovative products and are confident that new and existing customers will embrace them as enthusiastically as what we have delivered so far.”

    “This latest round reflects the company’s ability to execute software as a service from a development, sales and management perspective,” said Woody Benson, General Partner, Prism Venture Partners. “3am Labs resides at the cross-section of Internet-based services and software. With over a million users to prove it, the company is delivering an integrated remote user experience that simply works.”

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