Monday, 26 June 2017

VeliQ closes $9m series B funding

VeliQ
Tuesday 13 August 13

VeliQ, the creator of the mobility Platform as a Service (mPaaS™), today announced it has closed on a $9 million Series B round of financing. The round was led by Northcap, with T-venture to follow-up on its 2011 seed investment. The investment will support the company’s international expansion and fuel its global sales efforts, through its fast growing partner network. Since the launch of its mPaaS solution MobiDM in 2009, VeliQ has shown steady year over year revenue growth through its growing partner base of operators and integrators around the globe such as Deutsche Telecom…

VeliQ, the creator of the mobility Platform as a Service (mPaaS™), today announced it has closed on a $9 million Series B round of financing. The round was led by Northcap, with T-venture to follow-up on its 2011 seed investment. The investment will support the company’s international expansion and fuel its global sales efforts, through its fast growing partner network. Since the launch of its mPaaS solution MobiDM in 2009, VeliQ has shown steady year over year revenue growth through its growing partner base of operators and integrators around the globe such as Deutsche Telecom, KPN, Portugal Telecom and Vimpelcom. In addition to the funding, Northcap’s Kim Wiencken will join the Board of Directors for VeliQ and work alongside company management to help accelerate the global expansion.

VeliQ sought new funding to accelerate the continued development of its products and partner ecosystem, including its worldwide collaboration with SAP. VeliQ’s mPaaS solution, branded “MobiDM”, enables secure management of the rapidly growing number of smartphones, tablets and mobile apps within an organization from a central location, using Afaria© (SAP) technology. VeliQ employs around 100 people and is headquartered in the Netherlands. In April 2013, the company opened offices for the United States market in Boston, MA.

"Our mission is to make the management of all mobile devices in an organization as simple and secure as possible,” says Alex Bausch, founder and CEO of VeliQ. “Years of development have culminated in a complete mPaaS platform based on solidly proven technology. Our current yearly growth rate is in excess of 100%, and more and more telecom service providers and system integrators are keen to offer the MobiDM ecosystem to their customers. We chose Northcap from a range of interested investors because of their long-term strategy and expertise in scaling growth companies internationally.”

“When choosing a solution in the fast growing Mobile Device Management Market, buyers are looking for a market leader who can set direction for the space. VeliQ – with its solution and strong leadership – has already established themselves as a serious contender and we are confident they will become one of the leaders in the market”, says Kim Wiencken partner at Northcap.

"The VeliQ organization has reached maturity in recent years, and joining forces with an investor such as Northcap will enable them to continue their trend of rapid growth as well as providing them with a strong partner with a great deal of market knowledge and a proven track record,” says Jan Willem Huizingh, from consultancy firm De Strategie Compagnie who helped broker the investment.

MobiDM uses an intuitive web interface to facilitate the widespread automation of all routine management tasks regardless of the device and platform used. This drastically shortens implementation time for the Enterprise Mobility Management solution as well as reducing risk and costs. For a fixed monthly price per device, organizations no longer need to invest in software, staff and development themselves, but can enjoy all the benefits of an easy-to-use Software-as-a-Service solution that takes less than 15 minutes to implement and can be expanded flexibly according to the organization’s needs and mobility strategy.

VeliQ supplies MobiDM in over 60 countries via telecom companies and system integrators, often under their own brand name or as part of a more extensive service package.


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