MATRIXX Software Announces $40 Million in Funding Led by Sutter Hill Ventures
MATRIXX Software (http://www.matrixx.com) today announced a $40 million Series C funding led by Sutter Hill Ventures. Stefan Dyckerhoff, managing director at Sutter Hill, will join MATRIXX Software’s board of directors. Additional new investors include Spring Lake Equity Partners and strategic partner CK Hutchison, whose 3 brand group of telecommunications operators serve over 130 million customers globally. The round also includes existing investors and strategic partners Greylock Partners, Adams Street Partners, Telstra Ventures and Swisscom Ventures.
Silicon Valley-based MATRIXX Software provides a next-generation digital commerce platform for Telco and related industries. The company has experienced explosive 130 percent year-over-year growth, adding new customers across North America, UK, Europe, Middle East and Asia. This round of funding will be used to fuel the company's rapid global expansion.
Faced with the threat of disruption from online-savvy market entrants, Telecom operators around the globe have been moving quickly to digitalize their businesses. Challenged by aging IT systems that are out of step with evolving network and service portfolios, Telco’s are looking outside of their traditional vendor ecosystem for innovative IT solutions. MATRIXX Software’s Digital Commerce platform is a reinvention of Telco business support systems that brings together typically separate applications for product design and lifecycle management, customer engagement, service delivery and monetization into a single, comprehensive platform.
With customer engagement increasingly digital, Telco’s have prioritized their IT investments to favor ‘digital out-of-the-box’ as a replacement to their traditional BSS/OSS applications. “We embrace the Telco meets Silicon Valley ethos of MATRIXX Software,” said Dyckerhoff. “They’re empowering operators in ways no one else is, and their solution is packaged so that Telco’s aren’t dependent on multi-year transformation projects. The industry has been saying for years that it needs a better, more repeatable model for transformation. We believe MATRIXX Software has the solution the industry has been seeking.”
Streamlining IT infrastructure continues to be a priority as global operators move aggressively to simplify backend operations to more effectively compete against agile, digital rivals. “Simply recreating existing applications as ‘digital’ isn’t good enough,” said Susan Buttsworth, CEO 3 International Opportunities Development (3IOD, a CK Hutchison subsidiary). “This is a tremendous moment of opportunity for Telco’s to reinvent themselves with the customer journey as the driving force for their IT infrastructure decisions. We believe that the technology developed by MATRIXX Software can help every operator achieve its transformation objectives.”
“We founded MATRIXX on the principles of digital scale and agility. We design software with both the Telco and the end consumer in mind to deliver capabilities that will provide valuable and meaningful change to the way Telco’s operate,” said Dave Labuda, founder, CEO and CTO of MATRIXX Software, “We are thrilled to have Sutter Hill, CK Hutchison and Spring Lake Partners as investors that share our vision of how the Telco industry can thrive for decades to come.”
About MATRIXX Software
Silicon Valley based MATRIXX Software is committed to helping Telco’s reinvent themselves into leaders of the digital economy. MATRIXX Digital Commerce is our multi-patented platform built from scratch to serve as the foundation for next-generation digital IT architectures. Through innovations in engineering, product, sales and deployment, we empower Communications Service Providers with the speed, agility and autonomy they need to give their customers modern, digital experiences.
Follow MATRIXX Software online:
Website: www.matrixx.com
Vimeo: www.vimeo.com/user17468378
LinkedIn: www.linkedin.com/company/586602
Twitter: www.twitter.com/matrixx_sw
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180129005028/en/
Contact information
Mercury Global Partners for MATRIXX
Natalee Gibson, +1 720 648 5784
Managing
Director
matrixx@mercuryglobalpartners.com
About Business Wire
Business Wire(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
H.I.G. Capital Announces the Sale of DGS S.p.A.11.6.2024 12:00:00 CEST | Press release
H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $62 billion of capital under management, is pleased to announce that an affiliate has signed a definitive agreement to sell its portfolio company, DGS S.p.A. (“DGS” or the “Group”), a leading firm in the Italian Information Technology market, to DGS Co-Founders and management team in partnership with ICG, a global alternative asset manager. Since its inception in 1997, DGShas supported blue-chip customers in the design, integration, and maintenance of complex IT systems, with a specialization in digital transformation and cybersecurity services. The Group currently has over 1,900 employees, revenues of approximately €300 million, and maintains a group of highly loyal clientele. During H.I.G.’s ownership, DGS has tripled in size and consolidated its position as a leading Italian firm in cybersecurity services and digital transformation. DGS offers its clients sophisticated and proprietary digital transformation
Evertas Names Nick Selby Head of European Underwriting11.6.2024 12:00:00 CEST | Press release
Evertas, the world’s first crypto insurance company, has named Nick Selby as its new Head of European Underwriting. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240611141887/en/ Nick Selby, Executive Vice President and Head of European Underwriting at Evertas (Photo: Business Wire) Selby, an accomplished information and physical security professional, brings two decades of expertise in public and private sector information security, physical security, and complex incident handling, as well as seven years of experience leading teams securing billions of dollars in cryptoassets. Previously, his roles included VP of the Software Assurance Practice at Trail of Bits, Chief Security Officer at Paxos Trust Company, and Director of Cyber Intelligence and Investigations at the NYPD Intelligence Bureau. “Nick is an extremely valuable addition to our European team,” said Evertas CEO and Co-Founder J. Gdanski. “His public and private
Owlet utvider globalt fotavtrykk med lanseringen av medisinsk-sertifisert Dream Sock™ i Storbritannia og over hele Europa11.6.2024 11:00:00 CEST | Pressemelding
Owlet, Inc. («Owlet» or the «Company») (NYSE:OWLT), pioneren innen smart spedbarnsovervåking, kunngjør i dag den britiske og europeiske lanseringen av Dream Sock. Dette er en smart babymonitor med levende helseavlesninger og varsler for friske spedbarn mellom 0-18 måneder og 2,5-13,6 kg. Dette innovative medisinske utstyret gir foreldre helse og viktig informasjon i sanntid, noe som gir uovertruffen trygghet. Denne pressemeldingen inneholder multimedia. Se hele pressemeldingen her: https://www.businesswire.com/news/home/20240611820341/no/ (Photo: Business Wire) «Vi er svært stolte over å lansere Dream Sock til omsorgspersoner over hele Storbritannia og Europa og gi millioner av foreldre mer trygghet mens babyen sover,» sa Kurt Workman, Owlets administrerende direktør og medgründer. «Dream Sock er nå et globalt produkt som er anerkjent som medisinsk nøyaktig og trygt, etter å ha gjennomgått regulatoriske autorisasjoner og sertifiseringer innenfor flere geografier. I dag er misjonen vår
V-Nova Surpasses 1000 Patent Milestone in Media Technology Innovation11.6.2024 10:00:00 CEST | Press release
V-Nova, a leading provider of data compression solutions, video compression technology, XR technology, AI acceleration and parallel processing for a multitude of industries including media and entertainment, today announced its milestone achievement of 1000 active technology patents. This accomplishment underscores V-Nova’s dedication to research and development and its commitment to protecting its intellectual property globally. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240611724561/en/ V-Nova’s patent portfolio spans more than 50 different jurisdictions. Including over 400 patents in Europe, over 200 in the Americas, over 100 in the United States specifically, and over 200 in Asia. V-Nova forged new directions in data processing to enhance digital experiences, maximize efficiency, reduce costs, and increase sustainability. The company leads the way with key international data compression standards for the video indust
Alipay+ Reveals Top Scorer Trophy Design for UEFA EURO 2024™11.6.2024 09:24:00 CEST | Press release
Alipay+, a suite of cross-border mobile payment and digitalization technology solutions operated by Ant International and an Official Partner of UEFA EURO 2024™, today revealed the trophy that will be awarded to the most prolific marksman at the UEFA EURO 2024™ finale on July 14 in Berlin, Germany. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240610328619/en/ The UEFA Top Scorer Trophy presented by Alipay+ is unveiled for UEFA EURO 2024™ (Photo: Business Wire) Sculpted in the shape of the Chinese character “支” (pronounced zhi, and meaning payment as well as support), the trophy reflects Alipay+’s dedication to supporting consumers to enjoy seamless payment and a broad choice of deals using their preferred payment methods while traveling abroad. The character also resembles the fleeting moment of a barefooted striker poised to shoot, evoking the original beauty and power of football – a game that united people across the wo