Antenna Software Closes $17 Million in Second Round Funding Led by Polaris Venture Partners and North Bridge Venture Partners.Business Editors/Hi Tech Writers NEW YORK--(BUSINESS WIRE)--April 16, 2001 Investors Cite Antenna's Lead in Wireless Solutions for Growing Mobile Services Market Antenna Software, Inc., the leader in providing integrated wireless and Web-based solutions to the mobile and field service industry, announced that it has secured $17 million in second round funding led by Polaris Venture Partners, North Bridge Venture Partners and Hunt Ventures. The company also announced today that Jim Brown
James Nathaniel Brown (born February 17, 1936) is an American former professional football player who has also made his mark as an actor and social activist. , General Partner at Polaris Venture Partners, and Rich D'Amore, Partner at North Bridge Venture Partners, have joined Antenna's Board of Directors. Scott Segell, Managing Director at Hunt Ventures, will take on an observer role on the board. "Support from top-tier VCs, especially in today's economy, is recognition that our strategy and technology are on track," said Peter Semmelhack, President &CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Antenna Software. "There is a growing realization that high-quality mobile service is crucial to winning and maintaining customers. Our Web-native and wireless software not only helps get the right person to the right place at the right time with the right part, but also extends the enterprise by helping everyone involved in the process - field engineers, service managers, suppliers and customers - communicate more efficiently." "Polaris is excited to partner with Antenna Software," said Jim Brown, General Partner at Polaris Venture Partners. "Antenna is using the power of the Web and wireless technology to revolutionize the way the mobile service industry manages its relationships with customers. They understand field operations and the complex functions involved in delivering best-in-class customer service. Their innovative technology fundamentally changes the economics of customer service by streamlining communications and improving every aspect of mobile service management. We see this powerful technology as being crucial to the CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. providers as they evolve their solutions." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Tim Bajarin, a technology analyst and President of Creative Strategies, "New mobile management technologies are a critical component of next generation e-customer relationship management (eCRM) programs. Antenna is leading the pack in making the field force a vital link in any company's CRM strategy." Mobile and Field Service Market Opportunity Antenna plans to use the influx of capital to further its leadership position in providing wireless and Web-based solutions to the mobile workforce and mobile field service providers. This large and expanding market counts more than seven million mobile workers in the field each day. Antenna's initial market, computer services Data processing (timesharing, batch processing), software development and consulting services. See service bureau, SaaS and ASP. , includes core operations such as the installation, repair, maintenance and upgrade of mission-critical equipment in the IT sector. The current market for computer services, comprised of nearly 100,000 computer service providers in the U.S. alone, is estimated at $22 billion and projected to surpass $30 billion in three years, according to the Gartner Group (company) Gartner Group - One of the biggest IT industry research firms. Address: Connecticut, USA. . Future plans are to increase penetration of Antenna's products and services into other markets that rely on a mobile workforce, such as utilities, cable and telecommunications. AntennaTools(TM) and Antenna ServiceTools(TM) Designed specifically for the Internet, Antenna's products streamline and improve virtually every aspect of the management and delivery of mobile field services. Antenna's products offer a pure HTML HTML in full HyperText Markup Language Markup language derived from SGML that is used to prepare hypertext documents. Relatively easy for nonprogrammers to master, HTML is the language used for documents on the World Wide Web. interface that can be accessed via any standard browser on every major hardware or software platform, and run on all the most popular wireless platforms such as Motorola PageWriter, RIM Blackberry, Palm Pilot and Pocket PC. AntennaTools Web and wireless-enables, and extends any existing CRM and mobile service management systems. The backbone of AntennaTools is the AntennaNetwork(TM), an intelligent, rules-based information interchange and e-procurement network. Antenna ServiceTools, an ASP-based (Application Service Provider) solution, is a complete Web and wireless field service management system. Easy to use, and requiring low upfront investment, ServiceTools enables mid-market service providers to improve client satisfaction and increase profits using the newest Web and wireless technologies. About Antenna Software Founded in 1998, Antenna Software is the leading provider of integrated Web and wireless solutions for the mobile service industry. Based in New York's Silicon Alley An area in New York that has become known for its companies devoted to multimedia and the Internet. It is located in Manhattan's "Soho" district, which does not stand for Small Office Home Office, rather it is SOuth of HOuston Street. , Antenna's products enable service providers of all sizes to profitably deliver high-quality service to their customers. Antenna supports a growing client base of leading service organizations across North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Leading computer parts suppliers such as Ingram Micro Ingram Micro, Inc. NYSE: IM a Fortune 100 company founded in 1979 and based in Santa Ana, California. It is the world’s largest technology distributor and a leading technology sales, marketing and logistics company. and Tech Data are registered on Antenna's e-procurement network. Antenna's partners include Accenture, Nortel Networks (Nortel Networks Limited, Brampton, Ontario, www.nortelnetworks.com) A world leader in telecommunications products, which includes switching, wireless and broadband systems for service providers and carriers, telephones and systems for residential and business users, computer telephony and Motorola. For more information about Antenna Software, call 212-343-2866 or visit www.antennasoftware.com. About Polaris Venture Partners Polaris Venture Partners is a group of investors and technology executives with a successful track record of investing in and partnering with early-stage entrepreneurs in both information and medical technology. With more than $1.2 billion under management, Polaris services more than 60 companies including Akamai Technologies, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AKAM AKAM Akamai Technologies, Inc. (stock abbreviation) AKAM Automated Key Access Machine ), Avici Systems (NASDAQ:AVCI), Centra Systems (NASDAQ:CTRA CTRA Canadian Therapeutic Recreation Association CTRA College Terrace Residents' Association CTRA Canadian Telecommunications Resellers Alliance CTRA Committee To Restore America ), deCODE Genetics (NASDAQ:DCGN), and Paradigm Genetics (NASDAQ: PDGM). The company has offices in Boston, Austin, Seattle and Washington, D.C. For more information, visit www.polarisventures.com. |
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