ALISO VIEJO, CA--(Marketwire - February 10, 2009) - Memeo, Inc., a leader in digital media management services for the home and business, today announced the completion of a $3 million credit facility from Square 1 Bank, a full service commercial bank dedicated to serving the needs of the venture capital community and entrepreneurs in all stages of growth and expansion.

A software company dedicated to helping individuals and organizations share, manage and protect their digital assets, Memeo has a strong track record in the industry with a complete product offering and solid line-up of distribution partners, including Buffalo Technology, D-Link®, Seagate® and WD®. Memeo will use this loan to continue the momentum, growth and acceleration of its position in the industry.

"The combination of this loan in addition to the prior $8 million raised from G51 and Foundry Group puts Memeo in a terrific fiscal position, and is a testament to our strong financial performance and solid business model," said Hong Bui, Memeo founder and CEO. "Access to this combined level of capital accelerates our growth and allows us to rapidly respond to business development opportunities. We are excited about our bright future and ability to further accelerate channel development this year."

"We are impressed with Memeo's track record of innovation, strong leadership and quality investors," said Square 1 Bank's Peter Drees, SVP, Pacific Southwest Regional Manager. "We are especially pleased to partner with such a solid entrepreneurial company. Memeo shares Square 1's drive to innovate and serve its relationships, and they continue to come to market with impactful products and technologies."

Memeo is a privately-held company that is backed in equity funding from G-51 Capital and Foundry Group. For more information on Memeo and its backup, sync and sharing offerings, please visit www.memeo.com.

About Memeo

Memeo® Inc., based in Aliso Viejo, CA, is a privately-held software company backed by venture firm G51 Capital and Foundry Group. The company is focused on helping consumers and businesses share, manage and protect their digital lives. The company was founded in 2003 in an effort to capitalize on the rapid move towards a digital world. The company developed its software to give consumers and businesses alike a better way of protecting, managing and sharing digital, portable files and make them universally accessible. For more information on Memeo and its products, please visit www.memeo.com.

Memeo Inc. trademark statements. Memeo, Sharing Circles™, AutoBackup, LifeAgent and Zero-Touch are trademarks of Memeo. All other trademarks mentioned herein are the property of their respective owners.

About Square 1 Bank

Square 1 Bank is a full service commercial bank dedicated exclusively to venture banking -- providing financial services to entrepreneurs and venture capital firms. Square 1's expertise, focus and strong capital base provide solid support for its clients' needs in all stages of growth and expansion. The bank offers flexible, tailored products and solutions aided by the latest in technological innovations. To serve its relationships, Square 1 has offices coast to coast in Austin, Boston, Boulder, Durham, McLean, New York, San Diego, Santa Monica, Seattle and the Silicon Valley. More information is available at www.square1bank.com.