Navigation MenuRealWire Limited

Delivering Relevance, Releasing Influence

Tweet Facebook LinkedIn
Press Release

CommProve Secures New Financing of $14 Million

Media
Links

Financing round to accelerate international expansion and product extension

16th September 2008 - CommProve, a leading vendor of advanced solutions for the real-time monitoring of wireless networks, has closed $14 Million in new financing to support its international expansion and broaden its product portfolio. The financing round was led by TVM Capital and Endeavour with the participation of the existing investor, TLcom Capital.

CommProve has established itself as a leading vendor of software applications and systems to 2G and 3G wireless carriers to support real-time monitoring and data analysis of wireless networks.  Having deployed solutions with more than 10 operators in Europe, Africa and America, including Telecom Italia Mobile, WIND and Telecom Personal, supporting more than 120 Million mobile users, CommProve is looking to establish a presence in Asia to capture the large opportunities emerging in this region.

“With deployment of new wireless networks in emerging markets and the adoption of mobile broadband services to support devices such as the iPhone on existing networks, the timing of this expansion round could not be better” commented Dave Wilkinson, CEO of CommProve. “The financing will allow us to expand our market presence and further develop our solution portfolio to offer operators a new level of business intelligence for the management and deployment of services”.

"CommProve’s real-time capture of all mobile phone events in a network, and presentation of just the critical information needed to drive high value applications is unique and brings disruptive change to a market”, commented Christopher Cobbold, Partner at TVM and member of CommProve’s Board of Directors. “CommProve’s technology is faster and more cost effective than today’s drive-testing and customer surveys to collect feedback on performance. A growing customer base is taking advantage of their breakthrough technology. We look forward to helping CommProve further capitalize on this tremendous opportunity".

“CommProve’s technology has the potential to improve both actual network performance and the customer’s perception of service quality. The open platform ensures that the power of real-time information is available to drive many business functions, from network design to customer care” said Dominique Pitteloud, from Endeavour Vision and member of CommProve’s Board of Directors. “The solution ensures that operators can, for example, maximize the revenues from today’s high value roaming subscribers, be better positioned to offer superior mobile broadband services and adopt emerging technologies such as femtocells, WiMAX and LTE”.

About CommProve
CommProve, established in 1996, is headquartered in Ireland, with offices in Italy, UK, USA, Brazil and Spain. CommProve is the leading vendor of advanced solutions for the real-time monitoring of GSM and UMTS radio access networks. CommProve’s applications and systems help operators to reduce their costs, improve quality of service and develop new offerings, based on reliable network intelligence. CommProve’s solutions are deployed with some of the leading Tier-1 wireless operators, with a growing customer base across Europe, Africa, America and Asia. Netledge 3G Radio QoS won the GSM Association’s 2007 Global Mobile Network Quality Initiative Award. www.commprove.com

About TVM Capital
TVM Capital is a global venture firm with a 25 year operating track record. The investment focus of TVM Capital on financing technology and life sciences companies has led to specialized, focused teams and dedicated funds to serve the target markets best. TVM Capital’s Technology Team invests in promising businesses with a focus in information technology, internet, communications and clean technology. The TVM Capital Technology Practice has successfully invested in these emerging markets consistently, developing a deep understanding of the rapidly evolving markets and combining that knowledge with the right business expertise to help portfolio companies navigate the proper course. The TVM Capital Technology Team invests in all stages of the product life cycle from its earliest stages like material and design innovation through late stage opportunities brought about by innovative business models and strategies for execution.  For more information please visit: www.tvm-capital.com

About Endeavour Vision
Endeavour Vision combines a team of experienced venture capital professionals responsible for investments in 68 companies in 12 countries in both Technology and Life Sciences since 1989. Endeavour Vision targets European early stage companies that have potential to become global leaders. Beyond access to capital, Endeavour Vision brings years of experience, expertise and network to its entrepreneurs, plus a passion for success.  Endeavour Vision's professionals’ realized investments in the com /telecom segment include the following companies:  Cirpack (acquired by Thomson), PolySpace (acquired by Mathworks), Atlantech (acquired by Cisco), Native Networks (acquired by Alcatel), Virata (Nasdaq IPO), Dolphin Interconnect (Oslo Stock Exchange IPO), SCM Microsystems (Nasdaq – Neuer Markt IPO). www.endeavourvision.com

About TLcom Capital
TLcom Capital LLP is a London-based venture capital firm investing since 1999 in Telecom, Media and Technology (TMT) companies across Europe and Israel, with a growing focus and expertise in Southern and "Emerging" Europe TLcom primarily targets high growth revenue stage companies in the following industry segments: mobile; internet protocol (IP) technologies and services; broadband based network architecture and service platforms; semiconductors and materials; web based applications, services and technologies; digital media and technologies targeting the digital home environment. For more information, please visit www.tlcom.co.uk