Friday, December 4, 2015

Cellwize Secures $24.5M to Boost its SON Solutions

I covered the Israeli startup, Cellwize, a number of times last year - which is unusual for such young company:
  • The product (see "Cellwize Launches NFV Based, "pay-as-you-grow", SON" - here) and,
  • Impressive deployments by large MNOs (Cellcom, Israel on Sep. '14 and Telefocina, UK on Oct. '14).
It seems that these winnings and the promising market (see "SON Market to Reach $4B (2017)" - here) led to an impressive funding round of $24,5M in equity and credit.

The company announced it has "..raised $14.5 million in a Series A funding round led by Carmel Ventures and Vintage Investment Partners. In addition, Viola Credit (formerly Plenus) granted a $10 million credit facility to Cellwize. The funding will be used to boost Cellwize’s innovative SON customer-centric optimization capabilities and to expand its market presence including a planned significant increase in its workforce.
Already in operation for over two years, Cellwize optimization solutions are implemented in some of the world’s leading mobile operators serving over 300 million subscribers".

Ofir Zemer [pictured], CEO of Cellwize, said: “Cellwize has continuously invested in technology innovation and solution leadership, we will now be able to further accelerate our product road map and our market reach to take advantage of new SON opportunities Our recent growth demonstrates even more, that enabling mobile operators to ensure a high quality of service for subscribers while maximizing profitability is essential in today’s highly competitive market space.”

See "Cellwize Secures $24.5M in Funding led by Carmel Ventures" - here.

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