LOS ANGELES -- TechnoCom Corp.(R), a leading provider of wireless location Operations Support Systems (OSS) and Business Support Systems (BSS) solutions, today announced the completion of a $6.75 million financing round. The investment was led by Timeline Ventures of San Diego, with other investors including Third Point Management Company, Titan Investment Partners and iSherpa Capital.
TechnoCom's wireless location service management and middleware platforms allow customers, including carriers and enterprise solution providers, to manage and leverage their wireless location infrastructures and services, reduce operating and capital costs, deliver superior levels of service, and enable the rapid deployment of new revenue-generating or productivity enhancing services.
"This financing will accelerate TechnoCom's expansion and its leadership in the wireless location Operations and Business Support Systems markets," commented Dev Purkayastha, general partner of Timeline Ventures. "TechnoCom has consistently demonstrated its ability to maintain profitability and attract blue chip customers, even during periods of industry consolidation. The company is a perfect fit with our philosophy of investing in leading edge technology companies with strong management teams that have significant customer acceptance."
Robert Schwartz, of Third Point Management, added: "Carriers and enterprise solution providers around the world are already using TechnoCom's products to streamline their operations, generate new service revenues, enhance productivity and grow their subscriber base. The company is well positioned to capitalize on the multi-billion dollar wireless location Operations and Business Support Systems markets."
TechnoCom's chief executive officer, Mario Proietti, stated: "This partnership of strong investors provides TechnoCom with the necessary resources to more aggressively satisfy the needs of its North American customers, expand sales and business development efforts in Europe, Asia and Latin America, as well as speed the introduction of an expanded portfolio of Operations and Business Support Systems solutions."
TechnoCom Corp.