Visto Raises Additional $15M

Visto extends its round of financing with an additional $15M led by Meritech Capital Partners, increasing the total round to $65M

April 15, 2004

2 Min Read

REDWOOD SHORES, Calif. -- Visto Corporation, the leading provider of personal and corporate mobile messaging solutions to wireless operators for the broadest set of mobile device platforms, today announced that it has extended its round of private equity financing with an additional $15 million. This brings the total amount raised for this round to $65.4 million. This latest closing was driven by a new investor, Meritech Capital Partners, which has invested in a number of companies in the telecommunications, semiconductor, component, software and services markets. Existing investor Oak Investment Partners, a co-lead in the previous closings, also contributed.

"Visto has shown exceptional leadership in this fast-growing market," said Paul Madera, managing director of Meritech Capital Partners. "Visto continues to produce significant customer growth, as well as building partner relationships, all of which position Visto to lead in the global market for wireless messaging." Visto continues to use its funding resources to accelerate new product development, expand its sales and marketing infrastructure, and acquire companies that complement the company's business and technology strategy. Earlier this year, Visto announced that it had purchased Psion Software, and announced a deal with Microsoft to promote Visto's mobile email solution to wireless operators. "Visto is the best financed participant in the wireless operator driven mobile messaging market.

Our core technology, strategy, team, operator traction, paid subscriber growth and, of course, balance sheet, differentiate us from anyone in the world and better position us to compete with RIM for leadership in the worldwide market for mobile messaging technology," said Brian Bogosian, chairman, president and CEO of Visto. "We plan to deliver world-class returns to our investors by gaining market share and leading the industry with best of breed, secure wireless email to wireless operators and device manufacturers for corporate IT and business professionals."

Visto Corp.

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like