ItsOn Receives Second Tranche of Series C Equity Round

itsonItsOn Inc., a Redwood City, CA-based provider of a service platform for mobile operators, has received an investment in the second and final tranche of its Series C equity round.

Backers included Cisco Investments and other undisclosed investors.

Specific financial details of deal were not disclosed.

The company, which had raised a first $12.5m Series C tranche (read here) and a total of $47.5m in venture capital, intends to use the funds for sales expansion beyond the U.S.

Led by CEO Greg Raleigh, ItsOn provides a cloud-based platform which enables mobile operators to create and deliver personalized, interactive and context-relevant mobile network services.¬†The solution allows operators and MVNOs to virtualize service policy control, billing, traffic-management and on-device user self-care functions in a single, integrated service design and orchestration environment.¬†Through a cloud-based overlay onto existing mobile networks, it orchestrates all facets of voice, text and data connections policies as well as BSS/OSS processes across all operator systems. This enables the design and deployment of new smartphone, tablet and “Internet of Everything” wireless services lowering operating costs.

FinSMEs

03/09/2014

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