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CommProve Secures New Financing of $14 Million
Financing round to accelerate international expansion and product extension
CommProve, a leading vendor of advanced solutions for the real-time monitoring of wireless networks, has closed $14 Million in new financing to support its international expansion and broaden its product portfolio. The financing round was led by TVM Capital and Endeavour with the participation of the existing investor, Tlcom Capital.
CommProve has established itself as a leading vendor of software applications and systems to 2G and 3G wireless carriers to support real-time monitoring and data analysis of wireless networks. Having deployed solutions with more than 10 operators in Europe, Africa and America, including Telecom Italia Mobile, WIND and Telecom Personal, supporting more than 120 Million mobile users, CommProve is looking to establish a presence in Asia to capture the large opportunities emerging in this region.
"With deployment of new wireless networks in emerging markets and the adoption of mobile broadband services to support devices such as the iPhone on existing networks, the timing of this expansion round could not be better" commented Dave Wilkinson, CEO of CommProve. "The financing will allow us to expand our market presence and further develop our solution portfolio to offer operators a new level of business intelligence for the management and deployment of services".
"CommProve's real-time capture of all mobile phone events in a network, and presentation of just the critical information needed to drive high value applications is unique and brings disruptive change to a market", commented Christopher Cobbold, Partner at TVM and member of CommProve's Board of Directors. "CommProve's technology is faster and more cost effective than today's drive-testing and customer surveys to collect feedback on performance. A growing customer base is taking advantage of their breakthrough technology. We look forward to helping CommProve further capitalize on this tremendous opportunity".
"CommProve's technology has the potential to improve both actual network performance and the customer's perception of service quality. The open platform ensures that the power of real-time information is available to drive many business functions, from network design to customer care" said Dominique Pitteloud, from Endeavour Vision and member of CommProve's Board of Directors. "The solution ensures that operators can, for example, maximize the revenues from today's high value roaming subscribers, be better positioned to offer superior mobile broadband services and adopt emerging technologies such as femtocells, WiMAX and LTE". 16.09.2008, CommProve
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