Norwest Venture Partners Invests $20 Million in MobileSys.
PALO ALTO, Calif.--(BUSINESS WIRE)--Sept. 18, 2000
Norwest Venture Partners, the premier venture capital business partner for emerging growth IT companies, today announced a $20 million investment in MobileSys, Inc., the leading global wireless data and messaging platform provider. Norwest led this third round $36 million investment, which also included funding from BA Ventures and private investors, and reflects substantial support of the company's vision to offer a virtual global wireless data network with secure, guaranteed performance to power enterprise and eBusiness applications. Norwest Principal Bob Abbott will also serve on MobileSys's board of directors. MobileSys will use the additional financial support to accelerate the global expansion of its wireless data network, broaden strategic industry partnerships, launch its regional headquarters in Europe and Asia Pacific and increase the sales and marketing efforts required to support the company's exploding growth.
"MobileSys is leading the wireless messaging space through a solid customer base, knowledge of the factors that affect companies emerging in this area, and an experienced management team that is primed to take MobileSys to new heights," said Norwest Venture Partners' Bob Abbott. "The wireless space is fast emerging and both consumers and businesses are awaiting advances. Norwest looks forward to working with MobileSys to develop its product, vision and potential partnerships."
MobileSys has a solid vision to offer a virtual global wireless network with secure, guaranteed performance to power enterprise and eBusiness applications. The MobileSys wireless data platform provides secure, predictable message delivery and performance, consisting of both a two-way messaging engine and a global wireless data network that are device, application and carrier independent. The MobileSys solution reduces customers' "time-to-wireless" and expands the return on investment associated with wireless devices like mobile phones, personal digital assistants (PDAs) and pagers as well as enterprise-wide applications, such as sales force automation, email, help desk and more.
"Norwest Venture Partners was a clear choice for MobileSys as we enter this new stage of our development," said Dave Coelho, MobileSys president and CEO. "MobileSys is paving the way for mobile commerce and communications and now we have significant resources to expand our wireless data network and our operations globally. The relationships Norwest has in the space and the leaders it has developed indicate to us that we have a solid, mutually beneficial relationship to look forward to."
MobileSys, Inc., headquartered in Mountain View, Calif., provides a global wireless data platform for enterprise and eBusiness organizations. The MobileSys solution enables secure, guaranteed delivery of data worldwide from business applications to a variety of wireless devices such as digital phones, personal digital assistants (PDAs) and pagers. MobileSys has over 700 customers worldwide including Cisco, Qualcomm, Johnson and Johnson, LSI Logic and Hewlett-Packard. For more information, visit http://www.mobilesys.com.
About Norwest Venture Partners
Norwest Venture Partners, founded in 1961, is the premier venture capital business partner for emerging growth IT companies. The firm actively manages $850 million in investments and has raised more than $1,400 million since inception. Norwest Venture Partners has a broad information technology investment focus, including software and the Internet, data communications, telecommunications, semiconductors and subscriber-based services. The firm prides itself on supporting companies beyond the call of duty with the reputation, financial resources, seasoned business experience and network of relationships required for success. The firm has invested in such market leaders as Annuncio Software, Cerent Corporation (acquired by Cisco Systems [NASDAQ: CSCO]), Corio (NASDAQ: CRIO), Extreme Networks (NASDAQ: EXTR), OnDisplay Inc. (acquired by Vignette, [NASDAQ: VIGN]), Siara Systems (acquired by Redback Networks Inc., [NASDAQ: RBAK]) and Verio (NASDAQ: VRIO). Information on Norwest Venture Partners is available on the Internet at www.norwestvp.com or by calling 650-321-8000.
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|Date:||Sep 18, 2000|
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