Pontis raises USD10m from Qualcomm and existing shareholders
Pontis has secured USD10m in equity financing in a fundraising round led by Qualcomm Incorporated via its venture investment arm, Qualcomm Ventures, together with current investors Accel Partners, Evergreen, Norwest Venture Partners (NVP), Sequoia and existing strategic investors.
The Pontis solution allows communication service providers (CSPs) to deliver personalised offers to individual subscribers, resulting in increased customer loyalty and satisfaction, lower churn rates and increased revenues.
The Pontis solution is implemented at some of the leading tier-1 CSPs around the world, and already supports over 250 million subscribers worldwide.
“With CSPs increasingly focusing their efforts on customer retention and user experience, the Pontis solution is becoming ever more relevant,” says Ronnie Kenneth, Pontis chief executive. “The funding comes at time of fast growth and expansion for Pontis, as our solution is being adopted by more service providers across the globe and as we expand our offering. We are happy with the continued trust demonstrated by our shareholders and very proud of Qualcomm’s strong belief in us and in our solution. We plan to leverage the funding to strengthen our market leadership.”
Nagraj Kashyap (pictured), vice president of Qualcomm Ventures, adds: “Pontis has already demonstrated its ability to increase subscriber loyalty and drive higher ARPU with leading communication service providers around the world. We are excited to support the Pontis team and believe they have the right combination of a strong management team and unique technical expertise to make the company an industry leader.”
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