Airwide Solutions Secures $25 Million in Financing to Address Emerging Opportunities in Mobile Commu
Global investor Advent International joins existing investors to lead Series D funding
[ClickPress, Wed Jan 25 2006] Airwide Solutions, a global leader in providing mobile infrastructure software to enable, enhance and ensure mobile communications for wireless operators, today announced it has secured $25 million in Series D funding. The financing was led by a new investor, Advent International, with participation from existing investors Artiman Ventures, Axiom Venture Partners, Key Venture Partners, and Kodiak Venture Partners. Airwide plans to use the investment to fund its continuing growth and expansion, to support new product developments and to pursue strategic opportunities.
“Airwide Solutions has the characteristics we look for in an investment – a rich history of supporting complex networks for a global customer base that includes the leading companies in its market, a history of setting milestones in an emerging segment, and innovative technology that is at the forefront of an emerging market,” said Advent International Partner Michael Pehl.
Airwide Solutions is a leading provider of mobile infrastructure software, with more than 70 customers in 46 countries, including many of the top mobile operators. Mobile messaging continues to grow, with text messaging gaining widespread adoption, and with enhanced messaging services expanding into diverse applications, including mobile marketing, voting and A2P (application-to-person) applications. Airwide is also leading the emerging mobile security market, with more than 200 million mobile phones around the world secured by Airwide’s fraud prevention products. Additionally, Airwide infrastructure software enables device management solutions, which are becoming critical for operators needing to maintain a high quality of service, while facing increasing complexities driven by the proliferation of smart phones and diverse handsets.
Airwide plans to use this funding as part of its overall strategy for growth. In addition to continued development of its core messaging, mobile security, and device management products, Airwide will continue to expand into emerging geographical regions, and pursue strategic expansion opportunities.
“Airwide looks forward to applying this latest round of funding to the exciting mobile communications opportunities we see in 2006 and beyond,” said Airwide CEO Kevin A. Wood. “We believe the products and partnerships planned for this year will break new ground for carriers and their subscribers, and that this latest round of funding from both new and existing investors is further confirmation of the market opportunities and the business vision which will drive Airwide’s success.”
About Airwide Solutions
Airwide Solutions is a global leader in providing mobile infrastructure software to enable, enhance and ensure mobile communications for over 70 wireless operators worldwide. Airwide Solutions was founded in 2004 following the merger of Schlumberger Messaging Solutions (MSG) and Taral Networks. Airwide Solutions has a rich tradition of innovation; it sent the first commercial SMS (short message service) in 1992 and deployed the first A2P (application-to-person) MMS push gateway in 2004. Airwide Solutions has regional offices in England, Canada, India, Australia, Singapore and the United States. For more information on Airwide Solutions, please visit www.airwidesolutions.com.
Advent International: www.adventinternational.com
Artiman Ventures: www.artimanventures.com
Axiom Venture Partners: www.axiomventures.com
Key Venture Partners: www.keyvp.com
Kodiak Venture Partners: www.kodiakvp.com
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