REDWOOD CITY, Calif., Dec. 10, 2015 /PRNewswire/ -- ItsOn announced today that it has raised $12.5 million in a Series D funding round led by Delta Partners Capital Limited with follow-on investments from Verizon Ventures, Andreessen Horowitz, Tenaya Capital and other existing investors. ItsOn's technology empowers operators to deliver enhanced digital experiences with real-time, on-device mobile commerce for wireless services, content and apps.
ItsOn currently operates its award-winning cloud-based solution, known as the ItsOn Smart Services™ platform, primarily from North America data centers. Working closely with specific customers, ItsOn will use this investment to install new global data centers to support market launches in South America, Middle East, Africa and Europe.
"Mobile customers are looking for a better way to purchase wireless services and interact with their service providers. The ItsOn solution addresses this exact need," said Kristoff Puelinckx, Co-Founder and Partner at Delta Partners. "We are seeing a growing urgency among mobile operators to undergo a digital transformation and dramatically improve their end-user engagement. ItsOn's mobile commerce platform is at least five years ahead of every other player in this space. It enables operators to deliver enhanced digital experiences and offers to customers and engage them using contextual marketing for new products, services and incentives. With its proven technology for mobile operators, ItsOn is poised for rapid growth."
As people now use smartphones for all of their daily activities, they increasingly expect companies to provide a great digital experience. However, many mobile operators still rely on time-consuming and inconvenient store visits or customer service calls for the purchase and management of products and services. Operators are also now recognizing that providing greater transparency and more compelling service and mobile commerce choices directly on customers' smartphones leads to greater success and more market share.
"ItsOn has developed a solution for the way mobile operator services can be quickly developed, delivered and marketed to consumers, SMBs and IoT companies," said Ed Ruth, Director at Verizon Ventures. "We first invested in ItsOn seven years ago. They pioneered a virtual end-to-end carrier IT solution focused on service offer agility, engaging consumer experiences and real-time, on-device m-commerce growth opportunities. Since then we have seen ItsOn further innovate a cloud solution for OSS, BSS and user engagement that has moved the mobile service market forward, and we are pleased to continue investing in ItsOn."
ItsOn's commercial solution is a comprehensive digital transformation platform for wireless operators that includes an integrated cloud service, on-device software, and an easy-to-use, mobile operator interface called the Service Design Center. These three components connect to IT and business systems, so operators can provide the best digital experience, with a faster time to market for services, offers and mobile commerce growth.
"There's a rapidly growing demand for our technology as wireless service providers face increasing end-user expectations, new opportunities and new competition," said Dr. Greg Raleigh, Founder, CEO and Chairman of ItsOn. "This new investment round from Delta Partners Capital, Verizon and our other existing investors enables us to more rapidly expand global customer deployments while continuing to develop more innovations and maintain our lead in mobile network digital transformation technology."
About Delta Partners Capital Limited
Delta Partners is the leading Advisory and Investment firm specialized in telecoms, media and digital with offices in the Middle East, Africa, Europe, Asia, Latin America and the United States of America. Delta Partners' unique combination of Management Consulting, Corporate Finance1 and Private Equity2 creates unparalleled value for its clients, investors and business partners.
For more information, please visit www.deltapartnersgroup.com
Delta Partners Corporate Finance Limited1 and Delta Partners Capital Limited2 are members of the Delta Partners Group of companies and are authorised and regulated by the DFSA.
About Verizon Ventures
Verizon Ventures LLC seeks and invests in promising entrepreneurial companies that are tackling some of today's biggest challenges for Verizon's consumer and enterprise customers. Over the last decade Verizon Ventures has invested in more than forty companies covering a range of industries, technologies and market segments. Verizon Ventures offers support to its portfolio companies with technology and product development, market planning and sales, and access to the networks and platforms of Verizon Communications. For more information visit www.verizonventures.com.
ItsOn is a proven leader in mobile digital transformation, having fundamentally changed how mobile services are delivered and consumed. Founded in 2008, the company launched its services platform for mobile operators in the U.S. and globally last year, and counts both Sprint and Virgin Mobile as customers. ItsOn investors include Andreessen Horowitz, Tenaya Capital, Vodafone Ventures, Verizon Investments, Cisco and Delta Capital Partners. The company is privately held and headquartered in Redwood City, CA. For more information, please visit www.itsoninc.com or follow @ItsOnInc on Twitter.