A change in chief executive has led to a fourth round of funding for Intel Capital-backed Ozmo Devices, a US-based mobile communications technology provider.
Venture capital firm Atlantic Bridge Ventures led the $10.8m series D round for Ozmo, along with repeat backers Granite Ventures and Intel Capital. Ozmo said the investment followed Bill McLean joining as president and chief executive officer in February. The company said McLean joined after a headhunter was used rather than sourced through one of its financial backers.
Brian Long, a partner at Atlantic Bridge, said: "We have known Bill for a long time and were an investor in his previous success at GloNav."
NXP (part of ST Ericsson) bought GloNav for $110m in 2008.
Ozmo previously raised more than $32m, according to news provider PEhub.com, including $7.5m in series C funding from Granite Ventures, Intel Capital and Tallwood Venture Capital in September.