26 February 2009

Research Collaboration Start-up Mendeley Closes Financing Round

London, February  26, 2009 – Mendeley, a developer of a groundbreaking free platform for managing and sharing research papers, today announced it has closed its first financing round led by former Last.fm Executive Chairman Stefan Glänzer, former Executive Vice President of Digital Strategy and Business Development for Warner Music Group, Alejandro (Alex) Zubillaga, and ASI.

“Mendeley’s software achieves so much more than the other websites which are simply trying to be ‘the Facebook for researchers’,” explains Eileen Burbidge, ASI’s investment director. “Mendeley is not just another social network, it’s a truly valuable integration of software and web technologies that solves many of researchers’ day-to-day problems.”

Mendeley Desktop, a software client application available for Windows, Mac, and Linux platforms, automatically extracts metadata, full-text, and cited references from PDF research papers, builds up a personal research library, and offers sophisticated searching, tagging, and filtering functionality. It enables researchers to share, synchronize, and annotate their digital libraries collaboratively.

Data from Mendeley Desktop is exchanged with Mendeley Web, an online research network where users can back up and access their library database, discover the most widely read papers in their academic discipline, and connect to like-minded scientists and researchers.

“As the database of Mendeley Web grows, you will be able to view statistics about emerging research topics in every academic discipline, and readership statistics for each individual paper”, explains Victor Henning, one of Mendeley’s co-founders. “Soon we will also include a recommendation engine. Basically, it will be like a Last.fm for research.”

After joining Mendeley as the seed investor and Executive Chairman, Stefan Glänzer pulled together a team of advisors and investors from media, technology and academia including Alex Zubillaga, the former founding engineers of Skype at ASI and distinguished faculty members at Cambridge University, Johns Hopkins University, and other preeminent academic institutions.

About Mendeley
Mendeley develops software for managing and sharing research papers as well as a website for discovering research trends and connecting to like-minded academics. The company was founded in 2007 by Paul Föckler, Victor Henning and Jan Reichelt and is based in London, UK. Additional information at the address: http://www.mendeley.com/

About ASI
Ambient Sound Investments (ASI) is the investment group established by of the four former engineering co-founders of Skype, which primarily finances international start-up technology companies from its own funds. ASI is searching for companies developing new technologies or offering services based on them for its investment portfolio. Additional information at the address: http://www.asi.ee/

For more information, please contact:
Victor Henning
Co-Founder, Mendeley
Tel:  +44-207-2531595

Eileen Burbidge
Investment Director, ASI
skype: eileenbroch