Unedited news and product information from vendors.
Spring Wireless Secures $12 Million in Growth Equity Led by SAP Ventures
May 17, 2010 (07:05 PM EDT)
SEATTLE, May 17 /PRNewswire/ -- Spring Wireless, a global leader in enterprise mobility platforms and applications, announced today that it has secured a $12 million series D round of financing. New investor SAP Ventures, a division of SAP AG, led the round, which also included the participation of existing investors Goldman Sachs and New Enterprise Associates (NEA). The new investment fuels Spring Wireless' rapid growth in key growth markets around the world and funds product innovation in multiple verticals.
Businesses are increasingly utilizing mobile applications and technologies on smartphones and unwired devices to enable their employees to communicate, collaborate, and work efficiently with each other and their customers to adapt in a fast-paced consumer environment. Spring Wireless provides mission-critical mobility solutions to the enterprise market, comprised of software, infrastructure, connectivity and services. This "Solution as a Service" approach acts as the single point of contact in deploying, implementing and managing a robust platform across multiple devices and operating systems. Today, Spring Wireless serves more than 330,000 enterprise users within over 450 enterprises around the world, including customers such as Inbev, Kellogg's, P&G, Kraft Foods, Citibank and Santander.
"Spring Wireless' track record in delivering robust software solutions to some of the largest global companies in multiple verticals was a key factor in our decision to invest in the company," said Doug Higgins, partner, SAP Ventures.
"We believe there is an enormous market for mobile enterprise software applications, in which Spring is positioned to be a leader," said Patrick Kerins, chairman of Spring Wireless and general partner of NEA. "We welcome SAP Ventures as an investor as we continue to extend Spring's global reach."
"Mobility is quickly becoming an imperative in the enterprise market, as business cycles shrink and as the real-time enterprise emerges," said Marcelo Conde, founder and chief strategic officer, Spring Wireless. "Spring Wireless' involvement within the SAP ecosystem can be a catalyst to this industry transformation."
"SAP is synonymous with bringing efficiency throughout internal enterprise operations," notes Paulo Narcelio, president and CFO, Spring Wireless. "Now with mobile devices and networks gaining significant functionality, speed and reliability, we see our founding vision of operational efficiency becoming real in external business functions, involving the mobile value chain. We expect SAP Ventures' investment and support of Spring Wireless to accelerate our vision of efficiency and productivity anywhere business activity happens."
About Spring Wireless Offerings
Mobile Platform: Mobile Fusion™, Spring Wireless' platform for secure and managed mobile solutions, provides customers the technical foundation they need to manage disparate devices, operating systems, backend systems and applications. The platform includes data transmission engines, security components, management tools and reports.
Pre-Built Solutions: Spring Wireless mSeries™ offers customers pre-built solutions for sales and services, warehouse and delivery, as well as marketing and merchandising that integrate backend systems with sales and delivery processes. The solutions have an intuitive user interface that helps customers to streamline operations, reduce product delays and increase customer satisfaction and sales.
Comprehensive Services: MSM™ (Mobile Solution Management) is part of Spring Wireless' "Solutions as a Service" delivery model, giving customers a single point of contact for all their mobile service requirements. Spring Wireless' delivery model is unique to the industry and the centralized service approach has resulted in as much as a 200 percent return on investment for customers.
About SAP Ventures
SAP Ventures invests in innovative and disruptive software and services companies globally. We pursue opportunities across all stages for outstanding financial return. Our goal is to bring substantial benefit to all parties by facilitating interaction between portfolio companies and SAP and its ecosystem of customers and partners. SAP Ventures has a successful track record of building industry-leading companies by partnering with outstanding entrepreneurs and top-tier venture capital firms since 1996. For more information, visit www.sapventures.com.
About Spring Wireless
Spring Wireless delivers end-to-end mobility solutions designed to enable business and organizations to increase productivity, optimize real-time processes and operations, and maximize their business success.
Founded in 2001, Spring Wireless is a global leader in platform technology for enterprise mobility software and the fastest-growing company in the market according to IDC Worldwide Mobile Middleware 2009–2013 Forecast .
Solutions from Spring Wireless allow customers to seamlessly connect their mobile workforces to corporate systems across various operating systems and devices, making relevant business information available at any time when needed.
As the single point of contact for end-to-end mobility business solutions for its customers, Spring Wireless deploys and manages comprehensive solutions that integrate software, infrastructure, connectivity and services, generating greater service levels and lower total cost of ownership.
With offices located worldwide and over 450 enterprise customers worldwide, implementation projects combine Spring Wireless' technological leadership with a clear return on investment focus for customers.
SAP and all SAP logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries.
All other product and service names mentioned are the trademarks of their respective companies.
SAP Forward-looking Statement
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
SOURCE Spring Wireless