(Sao Paulo, Brazil) May 18, 2010 – Spring Wireless, a global leader in enterprise mobility platforms and applications, announced today that it has secured a $12 million series D round of financing. New investor SAP Ventures, a division of SAP AG, led the round, which also included the participation of existing investors Goldman Sachs and New Enterprise Associates (NEA). The new investment fuels Spring Wireless’ rapid growth in key growth markets around the world and funds product innovation in multiple verticals.
Businesses are increasingly utilizing mobile applications and technologies on smartphones and unwired devices to enable their employees to communicate, collaborate, and work efficiently with each other and their customers to adapt in a fast-paced consumer environment. Spring Wireless provides mission-critical mobility solutions to the enterprise market, comprised of software, infrastructure, connectivity and services. This ”Solution as a Service” approach acts as the single point of contact in deploying, implementing and managing a robust platform across multiple devices and operating systems. Today, Spring Wireless serves more than 330,000 enterprise users within over 450 enterprises around the world, including customers such as Inbev, Kellogg’s, P&G, Kraft Foods, Citibank and Santander.
“Spring Wireless’ track record in delivering robust software solutions to some of the largest global companies in multiple verticals was a key factor in our decision to invest in the company,” said Doug Higgins, partner, SAP Ventures.
“We believe there is an enormous market for mobile enterprise software applications, in which Spring is positioned to be a leader,” said Patrick Kerins, chairman of Spring Wireless and general partner of NEA. “We welcome SAP Ventures as an investor as we continue to extend Spring’s global reach.”
“Mobility is quickly becoming an imperative in the enterprise market, as business cycles shrink and as the real-time enterprise emerges,” said Marcelo Conde, founder and chief strategic officer, Spring Wireless. “Spring Wireless’ involvement within the SAP ecosystem can be a catalyst to this industry transformation.”
“SAP is synonymous with bringing efficiency throughout internal enterprise operations,” notes Paulo Narcelio, president and CFO, Spring Wireless. “Now with mobile devices and networks gaining significant functionality, speed and reliability, we see our founding vision of operational efficiency becoming real in external business functions, involving the mobile value chain. We expect SAP Ventures’ investment and support of Spring Wireless to accelerate our vision of efficiency and productivity anywhere business activity happens.”
About Spring Wireless
Spring Wireless delivers end-to-end mobility solutions designed to enable business and organizations to increase productivity, optimize real-time processes and operations, and maximize their business success.
Founded in 2001, Spring Wireless is a global leader in platform technology for enterprise mobility software and the fastest-growing company in the market according to IDC Worldwide Mobile Middleware 2009–2013 Forecast.