At the same time, it is eyeing a larger round later this year and an IPO early next year. The latest version of the applications, SiteMorfer 2.0, will be introduced at the CTIA Wireless trade show in New Orleans on Monday. It's a market with a lot of potential. IDC, the Framingham-based market researcher, projects the number of mobile devices will increase from 300 million today to more than 1 billion by 2003. And users will demand increased functionality so they can read news, trade stock and place orders on the road.
Companies coming out with solutions in the next year have a real chance for success.
But the competition is also intensifying. In addition to like-size compeitors, NetMorf has to keep an eye on Oracle, which has been dabbling in the mobile Internet field for the last two years. Oracle's presence validates the concept but could also overshadow NetMorf, House said. But NetMorf, which was founded in September, is confident its technology is superior. The company also believes its pricing is attractive.