Elematics Gets $10M in Funding

Elematics secures an additional $10M for its multi-carrier, multi-vendor control plane solution, led by Warburg Pincus

February 10, 2003

1 Min Read

BEAVERTON, Ore. -- Elematics, a leader in multi-carrier, multi-vendor control plane software, today announced that it has secured $10 million in Series B financing. This round of funding was led by Warburg Pincus, Elematics’ largest investor, and includes contributions from the management team. The total financing raised by the company to date is more than $25 million.The Series B investment will be used to extend the capabilities of Elematics’ existing multi-carrier, multi-vendor control plane solution, as well as further develop the marketing, direct sales and customer support organizations. The expansion of these organizations, as well as the current and future customer trials with Tier 1 and Tier 2 telecommunication carriers, are Elematics’ top priorities. “Investors are wary and extremely selective these days,“ said Clive Cook, co-founder and CEO of Elematics. “Elematics’ investors are seasoned, and they understand that the level of interest from the large telecommunication providers in our flagship product, the Intelligent Network Control Plane, is indicative of the value service providers place on managing their core transport networks in today’s challenging economic environment. Multi-carrier, multi-vendor control planes enable telecommunication carriers to add more customers to their existing network infrastructure in a faster and more automated fashion. This appeals to our customers who must grow revenues while operating with constrained capital budgets.”Elematics Inc.

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