Waltham, MA-based Pyxis Mobile has transformed into Verivo Software, a provider of enterprise mobility software, and has secured $17m in growth capital.
The round was led by Commonwealth Capital Ventures, with participation from existing investors Ascent Venture Partners and Egan-Managed Capital.
The company intends to use the funding to expand its sales, marketing and product development efforts and increase its global presence (opening new offices in Europe and Asia). Verivo plans to recruit additional software experts (http://verivo.com/about-us/careers/) and expand its platform and application program interface (API) for third-party developers, as well as explore new partnerships and M&A opportunities.
Led by CEO Steven Levy, Pyxis Mobile has evolved from a company that used its proprietary technology to design and sell mobile apps, primarily to the financial services industry, to directly offering its mobile platform to companies. Verivo now provides an enterprise mobility platform that allows companies to quickly build, deploy and manage apps. It is designed to meet the needs of multiple industries, including life sciences and manufacturing to automotive and transportation.
Clients include International SOS, CSX Corporation, Constellation Energy Group, and Federal Deposit Insurance Corporation (FDIC).