Hillcrest Labs reels in $25 million investment

Monday, Jan. 7, 2008

Hillcrest Labs reels in $25 million investment

Rockville company specializes in new technology for home entertainment

by Steve Berberich | Staff Writer

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Hillcrest Labs Inc., a Rockville home media company, has added a fourth investor and a new $25 million round of funding.

Investor AllianceBernstein led the new funding, joining New Enterprise Associates, Columbia Capital and Grotech Capital Group as Hillcrest financers.

Hillcrest, founded in 2001, is best known for its re-invention of the computer mouse into a handheld ‘‘air mouse” for menu-driven television entertainment.

‘‘Hillcrest Labs has created an entirely new and potentially game-changing platform for television and other forms of home entertainment,” said Jamie Kiggen, senior vice president of AllianceBernstein, in a statement.

Dan Simpkins, Hillcrest founder and CEO, said the new cash will further ‘‘validate” the company’s technology to bring a new ‘‘point-and-click paradigm to television and beyond.”

The company recently signed deals with major companies to sell its Freespace mouse technology along with the company’s companion software. The software, called HoME, allows users to select a wide range of television, music and Internet entertainment on digital TVs. Simpkins said he won’t reveal the names of those first customers until their ‘‘programming platforms” are finished over the next 12 months.