MATRIXX Software raises US$12m in venture funding

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.”