News: Portfolio 2005

TRAFFIC.COM® SECURES $20 MILLION IN FUNDING

Product Innovation, New Partnerships, and Expanding Coverage Also Mark First Quarter Milestones

Wayne, PA – May 2, 2005 - Traffic.com, Inc., the leading independent provider of traffic data and content, has secured a financing commitment for a minimum of $20 million. An initial $10 million has been funded by Washington D.C. based Columbia Partners L.L.C. Private Capital. This achievement was one of many in the first quarter of 2005. In addition, the company is pursuing an aggressive growth strategy for interactive and television solutions, and to support this strategy, has released new products and enhancements, signed new agreements with partners and clients, and expanded its geographic digital data coverage.

 

"Accurate, real-time traffic information has become an essential service demanded by mobile consumers and an invaluable tool for businesses," said Robert Verratti, Chief Executive Officer, Traffic.com, Inc. "Our strong start to the year gives us great momentum, and this new round of funding will enable us to expand our sales, marketing, and product development capabilities to support the growing needs of our customers."

 

Recently released interactive and television products and services:

 

• MyTraffic—now available in Chicago, Los Angeles, New York, and Philadelphia--enables Traffic.com users to personalize traffic information by setting up and saving regularly traveled routes and scheduling updates and alerts delivered via e-mail or to wireless devices. With MyTraffic, users easily and conveniently receive exactly the traffic updates they need when, where, and how they want them. A MyTraffic rollout of additional cities is planned for the remainder of 2005.

 

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