Fixmo attracts additional venture capital ahead of its upcoming new mobile utility bundle product launch - New investment by iNovia Capital

TORONTO, April 29 /PRNewswire/ - Fixmo, Inc. (www.Fixmo.com), the rapidly growing leader in the mobile software utilities space, today announced the closing of additional venture capital financing from iNovia Capital, complementing the $2M financing round led by Rho Ventures Canada, Extreme Venture Partners and other private investors. The financing will be used to introduce new products, expand sales and marketing, and drive new partnerships.

Fixmo Tools is a utility belt for your Smartphone. It helps save you from losing data, monitor your power and memory usage, and even avoid potentially embarrassing email mistakes. Fixmo is conveniently packaged to give you an essential set of tools in one simple download. Backed by world class support, experienced mobile developers, and a continuous flow of new utilities, Fixmo Tools is a must have Smartphone application.

"The mobile market is exploding in terms of numbers of devices, users, and number of applications, which has created an opportunity for a player to address the problems of core, critical functionality that cause the most headaches for users.", said Chris Arsenault, Managing Partner at iNovia Capital. "Fixmo Tools enhances a mobile device and offers utilities that people have come to expect in the personal computing world and are now demanding in the mobile world. Rick and his team have the opportunity of rapidly building a $100M mobile application company and take the leading position in the mobile utilities space."

"Fixmo is a new entrant in a highly segmented market that is seeing higher growth rates than the personal computer in its hay-days. Chris and the iNovia team "get" the big picture when it comes to consolidation of many of the smaller players into a large sustainable business," said Rick Segal, Co-founder & CEO of Fixmo. "iNovia understands how to support entrepreneurs at the earlier stages of growth. I'm pleased iNovia is joining us to deliver on this amazing opportunity."

Fixmo also announced that Chris Arsenault of iNovia Capital will be joining its Board of Directors.

About Fixmo

Fixmo delivers mobile software designed to make your Smartphone smarter. Fixmo Tools is a suite of utilities, which helps you avoid loosing data, increase Smartphone functionality, manage power, and help you avoid embarrassing mistakes. For more information, visit www.fixmo.com.

About iNovia Capital

iNovia provides venture capital to entrepreneurs who transform innovations into successful companies. The team is comprised of sector experts focused on Mobile, Consumer Internet, Internet Communications, Software and Digital Media. iNovia has $165M under management across two seed and early stage IT and Life Sciences funds. For more information, visit www.inoviacapital.com or follow iNovia on Twitter at http://twitter.com/iNovia.

SOURCE INOVIA CAPITAL