Edison Ventures said the exit in Tangoe, Inc. (NASDAQ:TNGO), an Orange, CT-based provider of Communications Lifecycle Management (CLM) software and services to a wide range of global enterprises, generated total cash proceeds of $80m (10X investment cost).
Edison invested a total of $8M in Tangoe, starting in 2002, and the company completed its IPO in 2011.
Led by Albert Subbloie, President & CEO, Founder, Tangoe provides CLM software and services to manage and optimize the processes and expenses associated with lifecycle for both fixed and mobile communications assets and services.
It include planning and sourcing, procurement and provisioning, inventory and usage management, mobile device management, invoice processing, expense allocation and accounting, and asset decommissioning and disposal.
[youtube id=”vJdKpmbUR2A” width=”620″ height=”360″]