Mendeley Secures USD 2 Million from ASI and Others

The developers of the Mendeley social software recently announced the close of its first round of funding acquisition. Leading the effort were investments from former Last.fm executive Stefan Glänzer, Alejandro (Alex) Zubillaga, formerly with the Warner Music Group, and private equity firm Ambient Sound Investments which was established by four of the co-founders of Skype. Mendeley put the value of this first round of funding at USD 2 million.

Mendeley (www.mendeley.com)
Mendeley is a free social software product designed to aid the managing and sharing of research papers. The suite consists of Mendeley Desktop, the sharing and management application, and Mendeley Web, the application for research trends and connection to others in the academic field. The small company is located in London and managed by a team of ten developers.

Mendeley currently requires registration in order to use the networking and sharing features. Although currently free software, the company plans to expand the capabilities and features which will require charging a reasonable fee. The software is available for Windows, Mac, and Linux.

Ambient Sound Investments (www.asi.ee)
Established by the four co-founders of Skype, Ambient Sound Investments focuses on the international start-up technology sector, using its own funds for various companies’ capital. Led by the four former engineers. ASI specializes in developing new technologies from firms that offer them as services.