TrafficCast International Completes Series A Round Funding, Raises $3.5 Million in...

TrafficCast International Completes Series A Round Funding, Raises $3.5 Million in Equity

Sona Wang, Managing Director of Chicago-based Ceres Venture Fund,
Joins Board of Directors
MADISON, Wis.--(Business Wire)--TrafficCast International, Inc., the leading provider of digital
traffic data and software for next-generation traffic information
services, announced today that it closed its Series A Round of funding
after raising approximately $3.5 Million in equity.

The company had previously announced raising $2 million in capital
but the Board of Directors extended the round to accommodate
additional investor interest and to facilitate growth in a rapidly
expanding market for mobile and interactive travel information.

Chicago-based Ceres Venture Fund, LP, led the extension. They were
joined by NEW Capital Fund LP of Appleton, Phenomenelle Angels Fund I,
LP of Madison, and Women Angels, of Milwaukee and Florida.

As previously announced, the funds are primarily earmarked for
marketing expansion and ongoing technology development. TrafficCast
International had previously secured a $1 Million line of credit from
SVB Silicon Valley Bank. The company has additional debt facilities in
place with the State of Wisconsin Department of Commerce.

Personal navigation devices continued to be among the hottest
consumer technologies in the recent holiday season. Along with the
rapid growth of mobile devices enabled by GPS location tracking
functions, the company believes the stage is set for rapid growth. It
anticipates attracting additional institutional funding in a Series B
round later this year.

With the close of Series A Round Funding, the company has also
announced that Sona Wang, Managing Director of the Ceres Venture Fund,
will join the TrafficCast Board of Directors. She becomes the Board's
third independent board member, joining Paul Schneider, Director of
Schneider National - one of the world's largest providers of fleet,
transportation and logistics services, and Terry Kelly, CEO and
Founder of Weather Central and MyWeather, Inc. - a leading provider of
Weather data and presentation graphics to media.

"The market for traffic information is entering a period of
explosive growth in line with the rapidly increasing demand for
location-based services, " said Ms. Wang. TrafficCast has
exceptionally valuable IP, patents and meaningful strategic alliances
in place to take advantage of the emerging opportunities, and is well
positioned for both the market and the Ceres Fund's investment
portfolio."

"I know firsthand how significant accurate traffic information is
to fleet and logistics management," commented Mr. Schneider. "With
these new funds, and Sona's expert guidance, TrafficCast will become
the industry's predictive traffic information and technology leader."

"In survey after survey, media consumers consistently rank
accurate weather and traffic information among their most valued
information," said Mr. Kelly. "Traffic and Weather are key ratings and
circulation drivers and TrafficCast technology can uniquely integrate
the two in forecasts of immense benefit to consumers, and power the
next generation of such content."

"With the close of this Series A Round and our lines of credit,
TrafficCast International has a strong foundation to expand our
technology and services to provide predictive information to
travelers," said Connie Li, co-founder and CEO. "We are pleased to
have found investors who share our vision, and Board Members whose
expertise will add considerable value to our team."

About TrafficCast. TrafficCast International, Inc. is the leading
provider of digital traffic data, with patented software and
predictive models to produce route-specific real-time traffic
information and travel time forecasts for traditional and emerging
traffic information markets. Privately-held, TrafficCast International
is a subsidiary of TrafficCast Inc, and is backed by angel and venture
capital investors. Growing revenues derive from distribution channels
ranging from portals to fleet logistics to media and the public
sector. The company is based in Madison, Wisconsin and has a branch
office in Shanghai, China. For more information, see
www.trafficcast.com

(C) 2008 TrafficCast International, Inc. All rights reserved.

TrafficCast International, Inc.
Nick Kiernan - 608.268.3927
n.kiernan@trafficcast.com

Copyright Business Wire 2008