SNAPin Software Secures Series C Financing, Accelerating Its Leadership in Handset Based Self-Service; Oak Investment Partners Leads $13 Million Investment.BELLEVUE Bellevue (bĕl`vy  ).1 City (1990 pop. 30,982), Sarpy co., E Nebr., a suburb of Omaha, on the Missouri River; inc. 1855. , Wash. -- SNAPin Software(TM), the first company to deliver self-service software for mobile phones, today announced that has closed a $13 million Series C round of venture financing, bringing the company's total funds raised to $18 million. Oak Investment Partners led the round, joined by Frazier Frazier, Joseph Known as "Joe." Born 1944. American prizefighter who won the Olympic heavyweight title (1964) and held the world professional heavyweight title from 1970 to 1973. Technology Ventures and Hunt Ventures. Tom Huseby, SNAPin chairman and managing partner at SeaPoint Seapoint is a small seafront area between Blackrock and Monkstown in Dublin in the Dún Laoghaire local authority area. It is best known for its beach and bathing areas, beside a Martello Tower on the Dublin Bay seashore. Ventures, will continue to represent Oak's seat on the SNAPin board of directors. SNAPin will use the funds to support the commercial deployment of its products with mobile operators worldwide. This investment marks a year of noteworthy achievements for the company, including the release of its category defining SelfService product suite, and the completion of several commercial field trials with leading European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. mobile operators. The SNAPin SelfService product suite includes four over-the-air updatable products that let operators deliver their own branded self-service experience to their subscribers, generating incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. revenue and dramatically reducing the cost of providing customer support. "The pace of innovation in wireless telecoms has been breathtaking breath·tak·ing adj. 1. Inspiring or exciting: a breathtaking view; a breathtaking ride. 2. Astonishing; astounding: breathtaking insensitivity. , although for many end-users the new services have been too difficult to set-up and use, and for operators they have been too costly to support," said David Walrod, general partner, Oak Investment Partners. "Just as the cash machine fundamentally changed retail banking by giving consumers a faster and easier way to manage their accounts, SNAPin's category-defining products are providing a similar sea-change for mobile networks." "We are very fortunate to have the backing and support of such an experienced group of investors, and we are delighted that Oak has continued with us to lead the Series C round," said Bob Lewis, president and 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 SNAPin Software. "Both our investors and customers have recognized the potential of our SelfService product suite and it's not hard to see why -- our software intercepts and resolves three out of four calls to customer support right on the device, delivering not only dramatic savings for mobile operators, but also an improved service experience for their subscribers." Live demonstrations of SNAPin's software will be conducted at stand G65 in Hall 2 during the upcoming 3GSM (Global System for Mobile Communications) A digital cellular phone technology based on TDMA that is the predominant system in Europe, but also used worldwide. Developed in the 1980s, GSM was first deployed in seven European countries in 1992. World Congress in Barcelona, Spain. About Oak Investment Partners Established in 1978, Oak Investment Partners is a venture capital firm with a strong track record as a stage-independent investor. To date, Oak has funded more than 350 companies with aggregate annual revenues in excess of $60 billion. Oak's investment strategy focuses on growth opportunities in enterprise application and infrastructure software, communications equipment and services, data storage, semiconductors, outsourced services, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. technology, and healthcare services. About SNAPin Software SNAPin develops self-service software for mobile phones. The SNAPin SelfService product suite lets operators deliver their own branded self-service experience to their subscribers, generating incremental revenue and dramatically reducing the costs of providing customer care. SNAPin products support all mobile phones and networks. For more information, visit www.snapin.com. |
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