Sonim Raises $28MSonim Raises $28M

Sonim announces $28M Series C round of financing led by Accel Partners

February 26, 2004

2 Min Read

SAN MATEO, Calif. -- Sonim Technologies, the leader in enabling today's wireless data networks to deliver high-margin voice services including Push-to-Talk, today announced a $28 million Series C financing. This significant commitment from Accel Partners and from the existing investors, funds advised by Apax Partners, 3i Partners and BV Capital, provides Sonim with the necessary resources to fuel its rapid growth to support carrier-grade Push-to-Talk (PTT) deployments on a global basis.

"We are thrilled to have received such a solid commitment from these world-class investors," said John Burns, CEO and President for Sonim. "The financing supports significant expansion to the product organization and further solidifies Sonim's strong market position in the explosive global PTT arena."

"In the past 12 months, Sonim has become the leader in Push-to-Talk technology with influential market, standards and engineering development," said Kaj-Erik Relander, Partner at Accel Partners. "We are extremely impressed by the stellar management team, and the best and brightest talent they have assembled."

"We are very excited about Sonim's growth potential in a promising business sector," said John McMonigall, Director at Apax Partners. "The company is strategically positioned with the best possible timing to benefit from the increasing penetration of Push-to-Talk and other voice services globally."

"We know that 'push-to-talk' is fundamentally changing the way we communicate -- and we see Sonim as a standard setting leader addressing the 'push-to-talk' market at exactly the right time," said Robin Murray, Partner with 3i and Member of Sonim's Board of Directors.

"Sonim has created a very strong Push-to-Talk eco-system including strategic partnerships with several of the wireless industry 'heavy-weights'," said Mathias Schilling, Partner at BV Capital. "We are impressed with Sonim's commitment to an end-to-end solution, a key success-factor and strategic advantage in the wireless industry."

"Sonim will now be able to amply respond to the increasing demand from wireless operators worldwide for PoC based solutions," said Bob Plaschke, CFO and EVP of Sales and Business Development for Sonim. "The key to PTT success is global execution capability with a standards-based solution, something that Sonim has available, with its partners, today," concluded Plaschke.

Sonim Technologies Inc.

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