Funambol Named a Red Herring 100 Winner

Funambol today announced that it has been selected as a winner of the annual "Red Herring 100 North America" award by Red Herring magazine. This list of 100 privately held companies in North America recognizes those that play a leading role in innovating the technology business. To view the full list, please visit http://www.redherring.com.

Disruptive technologies and business plans

"With venture capital flowing again, we're seeing a lot of innovative new companies taking on the established players with disruptive technologies and innovative business plans," said Joel Dreyfuss, Editor-in-Chief of Red Herring. "The Red Herring 100 North America companies, among them Funambol, are pushing and breaking the boundaries of the technology business and we are excited to report on their success stories."

"Funambol is glad to be recognized for being the fastest growing and most established mobile open source company by Red Herring," said Fabrizio Capobianco, CEO of Funambol. "We've seen our business grow significantly this year because our carrier, enterprise and ISV customers are realizing the benefits that open source and open standards bring to the mobile market."

Among other Funambol accomplishments in 2006:

-- The first company to take mobile push email capabilities beyond the

enterprise, to 96 percent of the mobile users in the world

-- Computer Associates licensed Funambol for mobile device management

-- Funambol launched the world's first open source push email support in

Version 3 of its flagship product

-- Carriers all over the globe, including ePLDT, the Philippines' largest

carrier, deployed Funambol's mobile open source platform

-- Funambol reached a milestone with more than 500,000 downloads for its

software

More than just buzz

Red Herring's lists of top private companies are an important part of the renowned magazine's tradition of identifying new and innovative technology firms and entrepreneurs. Companies like Google and eBay were spotted in their early days by Red Herring editors as some that would change the way we live and work.

After receiving more than 1,000 submissions and nominations, Red Herring's editorial staff rigorously evaluated Funambol and the other contenders through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development. The Red Herring 100 North America companies are at the forefront of the technologies that are changing our lives in profound ways.

Honoring the best

To honor the Red Herring 100 companies, Red Herring has invited their CEOs and founders to present at its Red Herring Spring 2006 conference, a forum for technology's most exciting companies, and to share their insights on the future of innovation and the entrepreneurial journey. Scheduled to take place at the Hyatt Regency Hotel in Monterey, this intimate, invitation-only conference will explore "The Pursuit of Disruption" and how it spawns unexpected opportunities, novel alliances, and great success stories.

About Funambol

Funambol is the mobile open source company. Funambol's Mobile Application Server offers "push" email, synchronization of contacts and calendars, and management facilities for mobile devices. Funambol (formerly known as Sync4j) is an open source development platform for mobile applications that has been downloaded more than any other wireless middleware product -- 500,000 times. The commercial version has been deployed at wireless carriers, Fortune 100 enterprises, hardware OEMs/ODMs and ISVs including customers such as Computer Associates. Funambol is headquartered in Redwood City, California with a development center in Italy. See http://www.funambol.com.

About Red Herring Spring 2006

Red Herring Spring 2006 will assemble 300 of the continent's most innovative and successful CEOs, investors, and corporate developers and feature a dynamic group of over 100 speakers that are pushing and breaking the boundaries of the business of technology. Themed "The Pursuit of Disruption," it will be held May 23-25 in Monterey, California. Please contact Michael Felber at 650.428.2900 or email mfelber@redherring.com to request an invitation to attend the event. More information is available online at http://www.herringevents.com/rhspring06.

About Red Herring Magazine

Red Herring magazine is a sophisticated insider's guide to the business of technology, featuring unparalleled insights on the emerging technologies driving the economy, from the Internet to wireless communications and digital entertainment. Red Herring's journalists report on how innovation and entrepreneurship are transforming business and how the business of technology is transforming the world, providing readers with a deep understanding of venture capital and capital markets. Recognized as an essential resource in today's fast-changing business world, Red Herring gets the right answers before anyone else even thinks to ask the questions. More information on Red Herring is available on the Internet at http://www.redherring.com.

Editorial Contacts

Funambol contact: Jennifer Cloer, jennifer@pageonepr.com

Red Herring Spring contact: Michael Felber, mfelber@redherring.com

Media Relations contact: Xenia von Wedel, xenia@terpin.com

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