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Airwide Solutions, an international leader in
providing mobile infrastructure software announced it has secured
$25 million in Series D funding. The software the company developed
is aimed at enabling, enhancing and ensuring mobile communications
for wireless operators. 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 is planning to use this investment
to fund its continuing expansion and growth, to pursue strategic
opportunities, and to support new product developments.
"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 has more than 70 customers in 46 countries, many
of them - top mobile operators. This investment emphasizes the fact
that Airwide Solutions is a leading provider of mobile
infrastructure software. Airwide leads a new mobile security market,
with more than 200 million mobile phones around the world that are
secured through Airwide's fraud prevention products. Additionally,
Airwide infrastructure software allows device management solutions,
which are becoming critical for operators needing to preserve a high
quality of service and at the same time deal with different hardware
that keeps changing.
Airwide Solutions has a long tradition of improvement; it sent the
first commercial SMS (short message service) in 1992 and setting up
the first A2P (application-to-person) MMS push gateway in 2004.
Airwide plans to use this investment of $25 Million as part of its
general strategy for growth. In addition to continued development of
its main projects of messaging, mobile security, and device
management products, Airwide will continue to expand into emerging
geographical areas, 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."
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