Press Release

MATRIXX Software Announces $40 Million in Funding Led by Sutter Hill Ventures

Investors include CK Hutchison and Spring Lake Equity Partners

SARATOGA, Calif., January 29, 2018 — MATRIXX Software today announces a $40 million Series C funding led by Sutter Hill Ventures. Stefan Dyckerhoff, managing director at Sutter Hill, will join MATRIXX Software’s board of directors.  Additional new investors include Spring Lake Equity Partners and strategic partner CK Hutchison whose 3 brand group of telecommunications operators serve over 130 million customers globally.  The round also includes existing investors and strategic partners Greylock Partners, Adams Street Partners, Tugboat Ventures, Telstra Ventures, and Swisscom Ventures.

Silicon Valley based MATRIXX Software provides a next-generation convergent charging and monetization platform for Telco and related industries.  The company has experienced explosive 130% year-over-year growth, adding new customers across North America, UK, Europe, Middle East and Asia.  This round of funding will be used to fuel its rapid global expansion.

Faced with the threat of disruption from online-savvy market entrants, Telecom operators around the globe have been moving quickly to digitalize their businesses. Challenged by aging IT systems that are out of step with evolving network and service portfolios, Telco’s are looking outside of their traditional vendor ecosystem for innovative IT solutions. MATRIXX is a reinvention of telco business support systems that brings together typically separate applications for product design & lifecycle management, customer engagement, service delivery and monetization into a single, comprehensive platform.

With customer engagement increasingly digital, Telco’s have prioritized their IT investments to favor ‘digital out-of-the-box’ as a replacement to their traditional BSS/OSS applications. “We embrace the Telco meets Silicon Valley ethos of MATRIXX Software,” said Dyckerhoff. “They’re empowering operators in ways no one else is, and their solution is packaged so that Telco’s aren’t dependent on multi-year transformation projects. The industry has been saying for years that it needs a better, more repeatable model for transformation. We believe MATRIXX Software has the solution the industry has been seeking.”

Streamlining IT infrastructure continues to be a priority as global operators move aggressively to simplify backend operations to more effectively compete against agile, digital rivals. “Simply recreating existing applications as ‘digital’ isn’t good enough,” said Susan Buttsworth, CEO 3 International Opportunities Development (3IOD, a CK Hutchison subsidiary). “This is a tremendous moment of opportunity for Telco’s to reinvent themselves with the customer journey as the driving force for their IT infrastructure decisions. We believe that the technology developed by MATRIXX Software can help every operator achieve its transformation objectives.”

“We founded MATRIXX on the principles of digital scale and agility.  As a Silicon Valley company, we design software with both the Telco and the end consumer in mind to deliver capabilities that will provide valuable and meaningful change to the way Telco’s operate,” said Dave Labuda, founder, CEO and CTO of MATRIXX Software, “We are thrilled to have Sutter Hill, CK Hutchison, and Spring Lake Partners as investors that share our vision of how the Telco Industry can thrive for decades to come.”

Read more about this announcement in the Financial Times here.

About MATRIXX Software

MATRIXX Software delivers a modern converged charging and digital monetization solution proven at scale. Global operators like Telefónica and Telstra, IoT providers like Tata Communications and network-as-a-service (NaaS) providers like DISH rely on the platform to overcome the limitations of traditional Business Support Systems (BSS). With MATRIXX, service providers can rapidly configure, deploy and monetize personalized, innovative offerings. Its cloud native platform delivers accurate, real-time information that improves customer engagement. MATRIXX enables commercial innovation and real-time customer experiences that drive revenue and growth opportunities across multiple markets.

 

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