VeliQ Gets $9M for Device Management
BOSTON -- VeliQ, the creator of the mobility Platform as a Service (mPaaS), today announced it has closed on a $9 million Series B round of financing. The round was led by Northcap, with T-venture to follow-up on its 2011 seed investment. The investment will support the company’s international expansion and fuel its global sales efforts, through its fast growing partner network. Since the launch of its mPaaS solution MobiDM in 2009, VeliQ has shown steady year over year revenue growth through its growing partner base of operators and integrators around the globe such as Deutsche Telecom, KPN, Portugal Telecom and Vimpelcom. In addition to the funding, Northcap’s Kim Wiencken will join the Board of Directors for VeliQ and work alongside company management to help accelerate the global expansion.