Developer of the next generation of online charging and subscriber policy management solutions raised financing led by Innovacom with participation from new investor Adams Street Partners.
MOUNTAIN VIEW, CA, MATRIXX Software, developer of the next generation of online charging and subscriber policy management solutions, today announces another round of funding, totaling US$12m, led by Innovacom with participation from new investor Adams Street Partners.
Funds will be used to continue the expansion of the MATRIXX Software technology footprint, increase sales presence in Europe and the US, and also expand sales presence to the Southeast Asia and Pacific regions.
Bruno Dizengremel, Partner at Innovacom, has been appointed to the MATRIXX Software Board of Directors. Mr. Dizengremel has an extensive background in telecommunications, previously serving as a Vice President at France Telecom Mobiles International. He also served as Technical Director for Panafon and Head of Business Development for a subsidiary of the Ericsson Group specializing in network management applications.
"This round of funding will further drive our penetration of the global market," said Dave Labuda, Founder and CEO of MATRIXX Software. "Communications Service Providers on all continents are urgently seeking to better monetize their networks as the uptake of smartphones and tablets continues to surge."
"MATRIXX Software's forethought, innovation and technical excellence have brought an outstanding solution to market that enables operators to capitalize on the growth of mobile broadband traffic," said Bruno Dizengremel of Innovacom. "With MATRIXX Software, operators have the most advanced real-time platform to drive a better customer experience, and to increase revenues through service differentiation and personalization."
MATRIXX Software has recently been recognized by Dow Jones VentureWire as a member of the FASTech 50 most innovative start-up companies worthy of investment. Dave Labuda will present at the Dow Jones FASTech Conference, November 8-9 in Redwood City, California. MATRIXX Software will also be participating in AfricaCom, November 9-10 in Cape Town, South Africa.
Innovacom, a venture capital company created by France Telecom in 1988, finances telecommunications and Internet start-ups through funds open to institutional investors. Innovacom has financed over 300 companies, 25 of which have been floated on Nasdaq, the Paris, London and Frankfurt Stock Exchanges. Its many notable successes include Business Objects, Infovista, Intershop, Soitec, LastMinute.com, Alapage, Kelkoo, AuFĂ©minin, Inventel, Netcentrex, Steek, Streamezzo and Digitick. For more information, visit www.innovacom.com
About Adams Street Partners
Adams Street Partners is one of the largest managers of private equity investments in the world. Together with its predecessor organizations, Adams Street Partners has been investing in private equity since 1972. Adams Street manages direct private equity investments as well as primary and secondary partnership investments. With offices in Chicago, London, Menlo Park and Singapore, the Firm currently has 110 employees and over $20 billion of assets under management. For more information, visit http://www.adamsstreetpartners.com.
About MATRIXX Software
MATRIXX Software is reinventing real-time to deliver solutions that help service providers address the growing volume and complexity of services that require real-time processing. Our flagship product, the MATRIXX Charging Engine, is the ultimate solution for service providers who want to monetize their portfolio of services and content. By delivering a ten to fifty-fold increase in performance over traditional and next generation charging systems, the MATRIXX solution enables an entirely new operational cost structure for online charging and subscriber policy management. It empowers service providers to monetize all products, services, and content in real-time at a dramatically lower cost per transaction (CPT). For more information, visit www.matrixxsw.com.
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