Volantis Closes $7.5MVolantis Closes $7.5M
Volantis has announced the closure of $7.5 million funding with Accel Partners & Kennet Venture Partners as principal investors
September 13, 2005
GUILDFORD, U.K. -- Volantis, the world's leading supplier of Intelligent Content Adaptation™ solutions for the mobile Internet, has announced the closure of $7.5 million funding with Accel Partners & Kennet Venture Partners as principal investors. The funding is intended to finance accelerated growth as Volantis continues to expand its customer base, geographic reach and technology offerings.
Volantis, who recently brought on former Metrowerks' CEO, Matthew Harris as CEO, is experiencing rapid growth in all of its target markets and the latest round of funding will allow the company to successfully meet this increased customer demand.
Matt Harris, CEO at Volantis, commented on the funding: "We are pleased with the support from Accel and Kennet. Both companies are already active within the Volantis organisation and continue to bring great value both as investors and as active board members. This funding will allow us to expand at the necessary rate to meet our 100%+ year-on-year increase in customer demand and will fund important initiatives including the opening this quarter of our development center in Krakow, Poland, expanded support in Asia and continued expansion of our product line."
David Carratt, Managing Director at Kennet Venture Partners, added: "We have been investors from the start as we believe in the technology and the team at Volantis and believe the current market is now driving the company’s need to expand."
Kaj-Erik Relander, General Partner, Accel Partners, said: "Volantis’ track-record has been impressive. In addition to its premier customer and partner list, the company has managed to transfer the same proven, carrier-grade technology it developed for mobile network operators to content providers and enterprises – something no other company has successfully done – and is poised to further extend this technology platform to meet new requirements of the global market."
The latest round of financing has increased the total funding secured by Volantis to $30 million to date.
Volantis Systems Ltd.
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