BIAP Systems Raises $20 Million

BIAP Systems Raises $20 Million

Sevin Rosen Funds Leads Investment in Interactive Television and Advertising

PLANO, Texas, Aug. 2 /PRNewswire/ -- BIAP Systems, Inc., the leading provider of interactive television (iTV) solutions, today announced the completion of a $20 million round of financing led by Sevin Rosen Funds with participation by SCP Partners and other existing investors. The financing will be used for the development and promotion of new applications.

BIAP Systems' (Broadband Interactive Applications) next-generation software enhances digital television services by enabling a broad range of iTV applications that can be used to create contextual, targeted advertising opportunities. With BIAP's software, which is accessible to the consumer through the digital set top box and remote control, viewers also gain access to additional personalization and localization capabilities, thereby increasing the value of their digital television experience.

BIAP has a growing number of interactive television customers, including leading media companies such as Time Warner Cable, NBC Universal and eBay. In collaboration with Time Warner Cable, BIAP launched a successful Fantasy Football application last fall, and recently deployed a new Fantasy Baseball application that enables fans to track their unique team's performance while simultaneously watching any channel.

"BIAP has revolutionized television. Today's digital set-top boxes are being transformed into devices that offer viewers an unlimited selection of personalized TV enhancements, and BIAP is leading this revolution," said Sevin Rosen Partner Ram Velidi, who will join BIAP's Board of Directors. "Whether a viewer is searching eBay on television using a standard digital remote control, or reading about an athlete on screen while viewing an Olympic broadcast, BIAP has blown through the boundaries of traditional television. Sevin Rosen Funds is pleased to work with the leader in this burgeoning field."

"Our partnership with Sevin Rosen comes at a very exciting time," said Tim Peters, BIAP's CEO. "We have concluded a series of new agreements with world class programmers that will result in the introduction of a significant number of new iTV applications. This funding will help accelerate our expansion into new markets and bring additional innovative applications to the American television viewer."

"BIAP improves the viewers' television experience while creating unique and highly valuable advertising opportunities," said Winston J. Churchill, SCP's managing general partner, and chairman of BIAP Systems. "Sevin Rosen shares BIAP's vision of media convergence, and we are delighted to have them as our partners in creating these opportunities."

About BIAP

BIAP's software enhances broadband and digital services delivered by cable television and provides consumers with increased value for their digital television and high speed subscriptions. BIAP is now carried in a growing number of markets across the United States and numerous interactive television applications have been deployed. Corporate headquarters are in Plano, Texas, with research and development in Sterling, Virginia. For more information, please visit http://www.biap.com/.

About Sevin Rosen Funds

Sevin Rosen Funds is a top-tier venture capital firm with a record of funding successful companies since 1981. The SRF partnership has consistently made early-stage investments in pioneering technologies and companies with the potential to create new markets. The partners' broad range of venture and operating experiences in successful technology companies translates into a sustained commitment and contribution to the development of the ventures funded. Compaq, Lotus, Cypress, Electronic Arts, SGI, Citrix and CIENA are representative of some of the firm's successful IPOs. The firm has offices in Dallas, Palo Alto, San Diego and Austin. For more information, please visit http://www.srfunds.com/.

About SCP Partners

SCP (http://www.scppartners.com/) is a diversified, multi-stage venture capital firm with over $800 million under management that is focused on investments in Information and Communications Technology (ICT), Life Sciences, Services, and Defense and Security. With over 200 years of combined investment and operating experience, SCP supports its investment portfolio with a rich base of strategic, operating and financial expertise and an extensive network to access capital, recruit management, and facilitate favorable strategic alliances.

Source: BIAP Systems, Inc.

CONTACT: Ellen Cooper of BIAP Systems, +1-212-777-8353,
ellencooper@biap.com

Web site: http://www.biap.com/
http://www.srfunds.com/
http://www.scppartners.com/

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