mFormation Extends Series D Financing to $24.5 Million with Addition of $15.3M Funding from Existing Investors; All Current Investors Reiterate Commitment Through Participation in a $15.3M Financing Round.EDISON, N.J. -- mFormation Technologies Inc, the market leader of mobile device management solutions for the mobile industry, announced the close of a $15.3M financing to extend the Series D round to $24.5M. This brings the total investment in the company to about $50 million. Existing investors Alex Brown Alex Brown may refer to:
The release of the new funds will enable mFormation to continue its drive to expand its operating activities and therefore solve the growing global demand for complete mobile device management solutions. The additional monies will be used to expand operations reflecting the buoyant demand for it's products, further its geographical expansion including the Asian market, and to raise the company profile in line with the customer successes that have been secured. "We are pleased that mFormation's existing investors led by North Bridge Venture Partners have re-affirmed their commitment to the company through this round of financing and chosen to invest the round internally despite external offers and following the significant commercial progress of the company," said Mark Edwards
Mark Edwards is the current host of the The Wake Up America, Sunday nights from 10:00 p.m. - 12:00 a.m. for KFNX-AM 1100 Phoenix, AZ. , 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 mFormation Technologies Inc. "mFormation has been the forerunner of a complete mobile device management solution that has been evolved over seven years and underpins the ability of mobile operators to execute on their data strategy and secure incremental revenues. This vision combined with a strong focus on execution has enabled mFormation to secure major customer wins and leadership in the global mobile device management market." About mFormation mFormation Technologies Inc. is the leading provider of mobile device management software, offering a complete solution that enables mobile operators to rapidly accelerate their data revenues and reduce support costs. mFormation's software manages a broad mix of mobile devices across multiple networks. Headquartered in Edison, New Jersey Edison Township (usually known as Edison) is a township in Middlesex County, New Jersey, United States. As of the United States 2000 Census, the township had a total population of 97,687, making it at the time the fifth largest municipality in New Jersey. As of the U.S. , and with offices in China, Germany, India, Italy, Japan, Spain, South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , South East Asia, US, and the UK. mFormation is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. funded by Alex Brown Venture Partners, Battery Ventures, Carmel Ventures, Intel Capital (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 : INTC INTC Intel (NASDAQ symbol) INTC Intercept INTC Interrupt Controller ), Kingdon Capital and North Bridge Venture Partners. mFormation's platform has been licensed to leading operators around the world. Contact mFormation on the Web at http://www.mformation.com mFormation and the mFormation logo are registered trademarks of mFormation Technologies, Inc. All other trademarks, registered trademarks and brand names are the property of their respective owners. |
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