Four Companies Secure $143 Million In Funding - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Mobile // Mobile Applications
Commentary
9/25/2008
05:36 PM
John Foley
John Foley
Commentary
Connect Directly
Google+
LinkedIn
Twitter
RSS
E-Mail
50%
50%

Four Companies Secure $143 Million In Funding

Business loans may be hard to come by, but in the past three days, four emerging companies have revealed that they're receiving a total of $143 million in investment funding. Here's how Connectiva, Digg, MOD Systems, and OpTier plan to spend the money.

Business loans may be hard to come by, but in the past three days, four emerging companies have revealed that they're receiving a total of $143 million in investment funding. Here's how Connectiva, Digg, MOD Systems, and OpTier plan to spend the money.On Sept. 23, Connectiva Systems, which makes revenue and risk management software for telecom companies, disclosed that it has secured $17 million in funding from a group of investors that includes SAP Ventures. It plans to use the money for R&D, sales and marketing, and to scale its operations. Connectiva's software helps telecom companies stop "revenue leakage" through fraud management, credit risk analysis, and other analytics.

Connectiva (founded in 2000) has one foot in the United States and the other in India. Headquartered in New York, the company's development center is in Kolkata, India. Likewise, one of its investors, VC firm NEA-IndoUS Ventures, has offices in Bangalore and Santa Clara, Calif.

OpTier, which specializes in business transaction management software, disclosed on Sept. 23 that it has secured $47.5 million in fourth-round funding, plus a $15 million credit line. Morgan Stanley is among its new investors. The company says it will use the money to fuel growth -- both organic and through acquisition -- and to support sales and marketing.

OpTier (founded 2002) introduced its flagship product, CoreFirst, in 2005. The software prioritizes IT transactions based on business needs. Headquartered in New York, OpTier's R&D center is in Israel.

On Sept. 24, user-submitted news site Digg.com (founded 2004) announced a $28.7 million investment led by Highland Capital Partners. Digg CEO Jay Adelson, in a blog post, explained that the money will go toward infrastructure, international expansion, hiring, and site development, including personalization, an enhanced recommendation system, and more ways to discover and organize content.

On Sept. 25, MOD Systems (founded 2005) said it has negotiated a $35 million investment from Toshiba, NCR, and others. MOD's platform is a kiosk-like distribution system for movies, TV shows, music, and other content.

Toshiba and NCR aren't just investors, but partners. Under the agreement, users will be able to download content to Secure Digital cards, cell phones, and other mobile devices through kiosks managed by NCR in retail stores, airports, and restaurants. Toshiba will develop set-top boxes and SD cards for the system.

What does this all add up to? The four companies serve different niches, but they're high-potential niches -- risk management, transaction management, user-generated content, and mobile media, respectively.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
Slideshows
Data Science: How the Pandemic Has Affected 10 Popular Jobs
Cynthia Harvey, Freelance Journalist, InformationWeek,  9/9/2020
Commentary
The Growing Security Priority for DevOps and Cloud Migration
Joao-Pierre S. Ruth, Senior Writer,  9/3/2020
Commentary
Dark Side of AI: How to Make Artificial Intelligence Trustworthy
Guest Commentary, Guest Commentary,  9/15/2020
White Papers
Register for InformationWeek Newsletters
Video
Current Issue
IT Automation Transforms Network Management
In this special report we will examine the layers of automation and orchestration in IT operations, and how they can provide high availability and greater scale for modern applications and business demands.
Slideshows
Flash Poll