Chumby Industries Secures $12.5 Million in Series B Funding

Marc Sokol of JK&B Capital Joins Board of Directors
SAN DIEGO--(Business Wire)--
Chumby Industries announced today it secured $12.5 million in
Series B financing. The lead investor was JK&B Capital, and other
participants included existing venture investors, Avalon Ventures,
Masthead Venture Partners and O'Reilly AlphaTech Ventures (OATV). The
Series B financing will be used to accelerate growth of the company,
and expand and broaden the Chumby Network(TM) to other screen-based
Internet connected devices.

"We are pleased to receive this financing which will enable us to
execute our vision and grow distribution of the Chumby Network," said
Stephen Tomlin, CEO and founder, Chumby Industries. "As the next step
of our strategy, we will focus on establishing relationships to
broaden distribution to other screen-based devices such as digital
photo frames and LCD TVs."

In addition, Marc Sokol of JK&B Capital will join Chumby
Industries' Board of Directors. Sokol brings more than 8 years of
venture capital and 30 years of operating experience including
executive roles at Computer Associates. His diverse background
encompasses experience in engineering, product positioning, marketing,
and business development. Sokol is also on the Board of Directors for
AppStream, ClearPoint Metrics, Vormetric, Scalent Systems, AlterPoint,
CounterStorm, Splunk and Cittio.

"Chumby Industries is creating a revolutionary new experience for
personalizing the Internet, and I am delighted to join the team," said
Marc Sokol, Partner, JK&B Capital. "There is tremendous opportunity to
build a massive network targeted at the next generation of connected
devices."

Last month Chumby Industries publicly launched the Chumby Network,
a rapidly expanding open pipeline of user-created and commercial
widget applications from high-profile media partners that offers the
latest news, weather and entertainment as well as the ability to share
photos, widgets and ecards with family and friends. Also launched in
February 2008 was the chumby(TM) device, one of the most versatile and
lifestyle-friendly Internet enabled devices on the market today, that
enables people to receive a constant personalized broadcast of their
favorite parts of the Web.

About JK&B Capital

Founded in 1996, JK&B Capital is a Chicago-based venture capital
firm with more than $1.1 billion under management which focuses on the
communications and software markets. JK&B has established a track
record of generating exceptional returns through its unmatched
technology and operational expertise and its rigorous research and
investment approach.

About Chumby Industries

Headquartered in San Diego, CA, Chumby Industries makes, sells,
and licenses the chumby(TM), a compact device that connects via a
wireless Internet connection and gives people a fun, hassle-free way
to enjoy what they want most out of the Internet, always on and simply
at a glance. Chumby Industries also runs the Chumby(TM) Network, a
rapidly expanding open pipeline of user created and commercial widget
applications from high-profile media partners such as CBS, MTV
Networks, MySpace, The Weather Channel Interactive, AOL's SHOUTcast
and Scripps Networks among many more. Offering the latest news,
weather and entertainment as well as the ability to share photos,
widgets, e-cards and more with family and friends, Chumby Industries
provides an open platform, enabling the chumby to be constantly
updated by any user, developer, media company or content creator to
enhance and improve the Chumby experience.

For Chumby Industries:
Megan Kellett
323-933-3399
mkellett@mprm.com

Copyright Business Wire 2008