iWorld

Roamware raises $14 million to fuel global expansion

MUMBAI: San Jose headquartered Roamware Inc., the global player in roaming solutions for mobile communications, has raised $14 million in a Series C round of financing. The funds will be used to enhance the company's product line and strengthen global operations to support growing demand for the company's mobile roaming products.

The company's previous investors, Accretive Technology Partners, DCM - Doll Capital Management and Shelter Capital Partners, co-led the growth-oriented round, states an official release.

"Roamware has been instrumental in engineering and building the new ecosystem of roaming services being adopted by mobile operators worldwide," claims DCMgeneral partner Rob Theis.

Shelter Capital Partners general partner Bahram Nour-Omid says, "We have great confidence in Roamware's international team and remain fully committed to bolstering Roamware's global leadership position."

According to global market research from Informa Telecoms & Media's 2005 Global Roaming Report, wireless network operators plan to continue aggressively rolling out roaming solutions, building on an estimated $78 billion in roaming revenues from an estimated total roaming population of 207 million.

"A key driver in the roaming business is the emergence of managed roaming services, enabling operators to maximize revenues by retaining roaming traffic within operator groups or alliances," said Roamware Chairman and CEO Mohan Gyani as per the release. "With more than 40 installations of our Traffic Redirection application, we are tackling this trend head-on and will continue to foster new innovations that meet the growing demands of the global roaming and value-added services market."

 

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