DoOnGo Technologies secures $18M in a funding round led by VantagePoint Ventures

January 12, 2004

2 Min Read

SAN JOSE, Calif.-January 12, 2004-DoOnGo Technologies, Inc., the industry leader in over-the-air mobile device software management, today announced that it closed $18 million in venture capital funding. Led by VantagePoint Venture Partners, the round included Vertex Management, Inc., CDIB Ventures, CDIB, Inc. and Mitsui Venture Capital. The funds will be used for product development, business expansion in the United States, Europe and Asia, and enhancement of DoOnGo's sales and marketing programs.

DoOnGo is the first company to power OTA application services on public wireless networks. The company is also the first to have a commercialized OTA solution deployed in Japan and Asia/Pacific. Its product suite enables wireless carriers to offer consumers an advanced, OTA mobile device software upgrade service. Additionally, DoOnGo provides device manufacturers with a rewrite service that offers low-cost "insurance" against high-cost device recalls. Software upgrade and rewrite services are in high demand from wireless carriers as they continue to develop a variety of services and applications, such as multi-player gaming. By delivering the first software infrastructure that increases the speed of OTA software downloads and decreases the delay of in-device software updates, DoOnGo empowers carriers to deliver breakthrough wireless services that drive higher revenues. Working with NEC, Sharp and Panasonic, DoOnGo brought the first commercialized OTA-capable phones to market for NTT DoCoMo.

"DoOnGo has experienced tremendous success in carrier and handset vendor adoption and production deployments of OTA capabilities. We look forward to working with DoOnGo to leverage its leadership position in China, Japan and Korea to expand its presence with U.S.- and European-based carriers," said Eric Ver Ploeg, managing director of VantagePoint Venture Partners and new board member for DoOnGo.

"This round of financing is a testament to the unrivaled quality of our wireless software management and OTA application provisioning solutions and DoOnGo's ability to meet the demands of global customers for fast and efficient solutions," said Dr. Luosheng Peng, chairman, CEO, and co-founder of DoOnGo Technologies. "While DoOnGo has already reached profitability, we are pleased to add a strong list of investors as we continue to build the company."

DoOnGo Technologies Inc.

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