MATRIXX Software Secures $9 Million in Second-Round Funding
March 11, 2010
MATRIXX Software secures US$9 million in second-round funding
Mountain View, CA, March 11, 2010 - MATRIXX Software, developer of the next generation of online charging and policy management solutions, today announces it has secured US$9 million in funding from Greylock Partners and Tugboat Ventures. David Strohm, a 30 year veteran at Greylock and Director at EMC Corporation and VMware, and Dafina Toncheva from Tugboat have been appointed to the MATRIXX Board of Directors.
MATRIXX Software was formed in 2008 by telecoms entrepreneur Dave Labuda, founder and CEO of Portal Software. Dave and his co-founders, Luther Kitahata and Jennifer Kyriakakis, have assembled a world class team with over 100 years of Telco rating and billing experience.
“Our ground-breaking approach to high-performance transaction processing rewrites the economics of real-time charging for service providers,” said Dave Labuda. “MATRIXX is uniquely positioned to drive the monetization of the explosion in mobile data traffic and help service providers profitably launch next generation services and business models.”
MATRIXX Software has developed a series of patent-pending technologies that deliver ten-to-fifty times the performance of current rating and charging solutions. This enables service providers to realize an extremely low, fully predictable Cost Per Transaction (CPT) for all services. With the industry quickly shifting toward real-time services and high-volume micro-transactions, service providers are unable to keep pace using their existing platforms. The MATRIXX solution turns these challenges into opportunities, allowing operators to leap into the real-time future while simultaneously driving down their operating costs.
“Dave Labuda has a proven track record of successfully bringing to market innovative software that answers the needs of service providers. With the technology developed at MATRIXX, the company is poised to fundamentally improve how operators approach rating and charging,” said David Strohm. “This type of game-changing innovation fuels explosive growth, and we are pleased to be partnering with MATRIXX Software to help them succeed.”
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 OC/PM 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.
About Greylock Partners
Greylock partners with entrepreneurs to help them build market-leading businesses. Over the past 45 years the firm has worked with hundreds of companies, 150 of which have gone on to IPOs and 100 of which have gone on to profitable M&A events, including: Ascend Communications, CheckFree, CipherTrust, Constant Contact, Continental Cable, Decru, Data Domain, DoubleClick, Farecast, Internet Security Systems, Ikanos, Legato, Media Metrix, Millennium Pharmaceuticals, Openwave, Open Market, OutlookSoft, Polyserve, Red Hat, RightNow Technologies, Success Factors, Sun Edison, Tellabs, Trilogy and Wily Technology. Current Greylock portfolio companies include Data Robotics, Digg, Facebook, Imperva, LinkedIn, Palo Alto Networks, Pandora, Picarro, Redfin, Workday and ZipCar. For more information about Greylock Partners, visit www.greylock.com or follow us on Facebook (http://www.facebook.com/greylock) or Twitter (@GreylockVC).
About Tugboat Ventures
Tugboat Ventures is an early stage, mentor capital firm dedicated to serving the highest potential entrepreneurs and business innovators today. Tugboat invests significant time, energy and money behind these select entrepreneurs to assist them in building market leading companies. Tugboat’s active involvement starts as early as concept stage and continues through public offering and beyond. Tugboat invests primarily in the San Francisco Bay Area and focuses on capital efficient companies in the areas of software infrastructure, enterprise software-as-a-service, consumer internet, mobility and cloud computing. Current and prior companies served by Tugboat’s team include Blue Nile, Drugstore.com, Good, Imperva, PGP, RepairPal, richrelevance, ShopItToMe and SuccessFactors. For more information about Tugboat Ventures, visit tugboatventures.com.
Media Contacts
MATRIXX Software
Simon Marshall, PR representative
pr@matrixxsw.com
+1 770 596 4072
Jennifer Kyriakakis, VP marketing
Jennifer.kyriakakis@matrixxsw.com
+1 650 575 9830
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