Telstra Ventures leads funding round for MATRIXX

MATRIXX Software has secured an undisclosed amount of funding. Telstra Ventures led the round with participation from previous backers Swisscom Ventures, Innovacom, Greylock Partners, Adams Street Partners and Tugboat Ventures. In addition to the funding, Mark Sherman of Telstra Ventures has been named to the MATRIXX board of directors. Headquartered in Mountain View, Calif., MATRIXX is a provider of real-time policy and charging solutions.

PRESS RELEASE

MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–MATRIXX Software today announces that Telstra Ventures has led its latest funding round with the objective of accelerating the expansion of MATRIXX’s operations while potentially driving strategic synergies for Telstra and Telstra business units.
Telstra Ventures invests in market leading, high growth companies that are strategically aligned with Telstra to offer high quality new products and services to its customers.
MATRIXX has developed new real-time technology designed for the intensive demands of the digital services environment. It delivers real-time charging, policy and analytics solutions that drive the transformation of the service provider’s business from traditional communications to digital services, and positions them for success in the emerging digital economy.
Mark Sherman, Managing Director at Telstra Ventures said, “Telstra recognized the strategic importance of MATRIXX’s technology to the future of Digital Service Providers (DSPs). MATRIXX enables service providers to create the high-touch, low cost-to-serve applications, services and personalized pricing plans that offer a great customer experience and strong future revenue growth potential.” As a result of the investment, Mark Sherman will join the MATRIXX board of directors.
Dave Labuda, Founder, CEO and CTO of MATRIXX Software, said, “Throughout the industry, there’s been a realization of the critical importance of real-time technology to drive the success of LTE deployments. As tier one service providers adopt MATRIXX technology, we’re thrilled to be joined by a strategic investor such as Telstra.”
Telstra Ventures was joined by existing investors Swisscom Ventures, Innovacom, Greylock Partners, Adams Street Partners and Tugboat Ventures in the round.
To learn more about MATRIXX Software, please visit www.matrixx.com.
About MATRIXX Software
MATRIXX Software enables NOW. We give Communications Service Providers instant visibility, intelligence and control of services across your network. Our patented, smart charging technology enables a seamless, intuitive service experience that empowers your subscribers – in the moment, every moment. Delivering up to a 100 times increase in efficiency and scalability, we equip you with the most advanced solution designed specifically for the data generation. Charging. Policy. Insight. Value. NOW. For more information, visit www.matrixx.com.
About Telstra Ventures
Telstra Ventures invests in market leading, high growth companies that are strategically aligned with Telstra to offer high quality, new products and services to its customers. Based in Australia and Silicon Valley, Telstra Ventures works closely with quality entrepreneurs to build significant companies. Telstra Ventures is a corporate venture capital group founded in 2011 as a wholly owned subsidiary of Telstra Corporation.

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