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Communications - Wednesday, December 22, 2004

BeInSync - Profile

HQ: Tel Aviv, Israel

Founded: 2004

Management: BeInSync founders are president and CTO Sharon Carmel and CEO Tel Barnoach. Barnoach was chairman of Orca Interactive, sold to Emblaze in April 2000, and which held its IPO (LSE:BLZ) in September 2004. He was also chairman of iCognito (now PureSight) and Dotomi.

Investors: Company raised $3M in its first round with hopes of increasing that to $5M. BeInSync founders Sharon Carmel and Tel Barnoach invested $1.5M in the first round. Eurofund and Aviv Venture Capital (formerly Fantine Group) led the round.

Business Model: Company sells software for $9.95 p/month that uses peer-to-peer technology to makes information available for end-users on the road, by automatically synchronizing their files and e-mail among several computers.

Competitors: Citrix Online (GoToMyPC), Laplink.

Dirt: Are there no graphic designers in Israel? Just makes it under the wire for the nastiest looking site of the year award. That said, BeInSync has a couple of things going for it - it is simple to set up and it costs a lot less than the competition. While we think there is pent-up demand for this kind of product, nobody has taken the market by storm. BeInSync has received mixed reviews, but it is V1.0.