ItsOn, the US-based operator of a services platform for mobile operators, secured $12.5m in series D funding on Thursday from investors including Verizon Ventures, telecommunication company Verizon’s corporate venturing unit.
Advisory and investment firm Delta Partners Capital led the round, which also featured follow-on investments from existing investors including venture capital firms Andreessen Horowitz and Tenaya Capital.
Founded in 2008, ItsOn’s Smart Services platform helps mobile operators to provide services and offers to IT and business systems. It includes an integrated cloud service, on-device software and a specialised, easy-to-use interface.
The company, which primarily operates Smart Services through US data centres, will use the cash to open additional data centres internationally to support launches in South America, the Middle East, Africa and Europe.
Cisco Investments, networking equipment producer Cisco’s corporate venturing unit, invested an undisclosed sum in ItsOn in September 2014, adding to a $12.5m first tranche backed by Tenaya and Andreessen Horowitz earlier in the year.
The first series C tranche took the overall funding raised by ItsOn, which also counts Silver Lake Partners and SV Angel as backers, to more than $40m.
Verizon Ventures director Ed Ruth said: “We first invested in ItsOn seven years ago. They pioneered a virtual end-to-end carrier IT solution focused on service offer agility, engaging consumer experiences and real-time, on-device m-commerce growth opportunities.
“Since then we have seen ItsOn further innovate a cloud solution for [operations support systems], [business support systems] and user engagement that has moved the mobile service market forward, and we are pleased to continue investing in ItsOn.”