MATRIXX Software recently announced $50 million in growth funding from Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses.
The investment will accelerate MATRIXX R&D for product innovation in addition to expansion into adjacent market opportunities and customer segments.
Growing over 60% year over year, MATRIXX’s rise has been fueled by the first waves of 5G network investments and rollouts. The last eighteen months have seen a more than 60%+ increase in the number of contracted subscribers for the MATRIXX Digital Commerce Platform, driven by a 50% increase in the total number of customers, as well as expansions of existing relationships. These include key operators such as Dish, Telefonica/O2 Germany and Telstra, who are at the forefront of deploying 5G networks and innovative new service offerings.
To reap the benefit of their investments in 5G networks, telecom operators are increasingly focused on monetization and next-generation, product-based solutions capable of delivering transformative business agility. MATRIXX is the leading multi-cloud monetization platform on the market and is already driving significant gains in market share. To meet growing demand for next-generation charging solutions, MATRIXX will use the funding from Francisco Partners to invest heavily in R&D to continue to evolve and expand product capabilities and solidify their leadership position..
Glo Gordon, MATRIXX CEO
With both traditional and new service providers investing heavily in 5G, MATRIXX is the industry’s only commerce platform capable of unlocking the innovative enterprise solutions, new commercial relationships and multi-party business models that will define the future of connectivity.
Peter Gingold, Who led the deal for Francisco Partners
MATRIXX’s product leadership, robust customer base and impressive track record of growth creates a unique and powerful platform that we believe is well-positioned to continue gaining market share. We are excited to partner with the MATRIXX team to help further accelerate innovation and drive their continued expansion across both market and customer segments.
