Big data analytics company Intersec has bagged $20 million in series B funding, money it will use to expand into the US and further build out its big data software that is designed for mobile networks.
The France-based company announced the funding round, from Highland Capital Partners Europe and existing vendors, this week. The private company, founded in 2004, has been cagey about its financials in the past, but it also raised $4.9 million from Innovacom , the investment arm of Orange (NYSE: FTE) (France Telecom), and CM-CIC Capital Innovation in May 2011. This time around, Cartagena Capital advised on the investment, and two partners at Highland Capital, Laurence Garrett and Tony Zappala, will be joining Intersec 's board of directors.
Intersec offers analytical software designed to help telcos improve their operational efficiency, build new location-based services such as its family monitoring app and better engage with customers. It already works with big names such as Telefónica SA (NYSE: TEF), MTS Allstream Inc. , Etisalat and Salt SA , but it's planning to use the fresh cash to expand its US headquarters in New York. (See Portugal Telecom Picks Intersec for LBS, Intersec Doubles Its Revenues and EuroProfile: Intersec.)
Why this matters
Intersec is not alone in its big data ambitions. It's a crowded space that's attracting big-name vendors, software providers and startups alike. That said, operators are keen to gain insights into their network usage and find ways to better target their customers, so the vendor is expanding in the market at the right time. Its value-added service-creating potential will likely appeal to those looking to keep better track of their customers, but maintaining privacy will be key to it taking off in the data-sensitive US.
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— Sarah Reedy, Senior Editor, Light Reading