Saratoga, Calif., February 25, 2019 — MATRIXX Software, an innovation powerhouse committed to transforming global commerce, today announced accelerated growth and continued customer adoption in 2018. The company’s annual contract value grew at a Compound Annual Growth Rate (CAGR) of 70 percent during the last two years by adding new Telco and IoT customers across Europe, the Middle East, Asia and the Pacific Rim. In 2018, MATRIXX launched the first full stack, digital business support systems (BSS) deployment in the public cloud working with Google Cloud Platform and a Tier One North American operator. To support ongoing customer growth while continuing to grow the footprint of its market leading MATRIXX Digital Commerce Platform, the company expanded its employee base by 50 percent.
“This year has been one of tremendous growth for MATRIXX Software driven by Telco investments in new IT infrastructure to support the transformation to lean, digital service providers,” said Dave Labuda, founder, CEO and CTO of MATRIXX Software. “By offering a platform that enables digital commerce across all networks, product lines and customer segments, MATRIXX is enabling Telcos to quickly build and launch new, revenue-generating services across consumer, enterprise and IoT.”
Built entirely from scratch, the multi-patented, award-winning MATRIXX Digital Commerce Platform enables a digital-first reinvention of Telco business support systems (BSS). It brings together traditionally separate network and IT functions into a single platform including product design and lifecycle management, customer engagement, service delivery and monetization. Built for digital, the MATRIXX Digital Commerce Platform offers operators the agility and seamless scalability required to compete and win now and in the future.
MATRIXX Software at MWC19
MATRIXX Software is showcasing its offering at Mobile World Congress Barcelona February 25 – 28, 2019, Hall 2, Stand D22. As part of the activities at MWC19, MATRIXX will host a Digital Leaders Speaker Series. Top Telco industry executives from leading North American and Italian operators will discuss their IT transformation strategies and how their approach provides the agility and seamless scalability needed as mobile operators deploy 5G.
2018 MATRIXX Software Highlights
Recent company milestones highlighting MATRIXX’s technology innovation, corporate growth and customer momentum include:
- Completed a $40 million Series C funding led by Sutter Hill Ventures. Joining Sutter Hill Ventures and existing MATRIXX investors were new investors CK Hutchison and Spring Lake Equity Partners
- Launched its MATRIXX Digital Commerce Platform on Google Cloud providing a single platform that provides Telcos rapid digital transformation via the public cloud
- Added new customers throughout the world including:
- A Tier One North American Telco provider that launched a cloud-based, digital-native offering with plans that users can activate and manage solely through the service’s mobile app
- Orange Polska announced it is deploying MATRIXX Digital Commerce Platform as a foundation for its digital transformation
- Yodoo Malaysia implemented MATRIXX Digital Commerce Platform to launch Malaysia’s first mobile service that enables customers to completely customize their mobile plans
- Ooredoo partnered with MATRIXX to provide personalized, digital mobile plans to the Oman Market
- 3 Hong Kong, the mobile arm of Hutchison Telecommunications Hong Kong Holdings Limited, announced agreements with Tech Mahindra, MATRIXX Software, Salesforce and Vlocity to enable digital transformation of its telecoms operations
- Stefan Dyckerhoff, managing director at Sutter Hill, and cloud entrepreneur Dave Yarnold joined MATRIXX Software’s board of directors
- MATRIXX further strengthened its executive team with appointments of three executives:
- Martin Savitt, a 20-year veteran of leading software companies joined as chief revenue officer
- Bill Highstreet brings more than 30 years of Silicon Valley tech experience to his position as VP of operations and chief of staff
- Terry Wong shares 20+ years of global HR strategy in her new role as VP of human resources
- Expanded its development center in Ipswich, UK at Adastral Park. The park, a cluster of high-tech telecommunication and technology companies, is at the heart of the UK’s digital ecosystem
- Awarded a grant by the UK Government for research on advanced AI based mobile quality assurance
- Expanded offices in Dubai, Melbourne, and Silicon Valley
- Recognized by the Asia-Pacific Stevie® Awards for Innovation in Technology Development in the Telecommunications Industries
- Dave Labuda, founder, CEO and CTO was named CEO of the Year by NPG IT World, and was also honored with a Silicon Valley Business Journal C-Suite Award for his leadership as CEO
- Founder Jennifer Kyriakakis was recognized by Information Age as Entrepreneur of the Year. She was also named Entrepreneur of the Year and Innovator of the Year by Women in Business and the Professions World Awards
About MATRIXX Software
MATRIXX Software delivers a modern converged charging and commerce solution proven at scale. Its cloud native Digital Commerce Platform provides network-grade, mission critical software that unlocks new network monetization opportunities. With its no-code configuration capabilities, MATRIXX empowers service providers with the agility necessary to easily develop, deploy and monetize new products and services. MATRIXX is the platform of choice powering many of the world’s leading communications companies, IoT players and emerging network infrastructure providers. MATRIXX makes it possible to harness commercial innovation and on-demand customer experience to better compete and drive new revenue and growth opportunities across markets and verticals.