CK Hutchison, owner of the Three network has participated in a $40 million Series C funding round for Matrixx Software that was led by Sutter Hill Venture.
The round also includes existing investors and strategic partners Greylock Partners, Adams Street Partners, Telstra Ventures, and Swisscom Ventures.
Silicon Valley based Matrixx Software provides a next-generation digital commerce platform for Telco and related industries.
Faced with the threat of disruption from online-savvy market entrants, Telecom operators around the globe have been moving quickly to digitalize their businesses. Challenged by aging IT systems that are out of step with evolving network and service portfolios, Telco’s are looking outside of their traditional vendor ecosystem for innovative IT solutions.
MATRIXX Software said its Digital Commerce platform is a reinvention of telco business support systems that brings together typically separate applications for product design & lifecycle management, customer engagement, service delivery and monetization into a single, comprehensive platform.
With customer engagement increasingly digital, Telco’s have prioritized their IT investments to favor ‘digital out-of-the-box’ as a replacement to their traditional BSS/OSS applications, said the company.
Susan Buttsworth, CEO 3 International Opportunities Devlopment, 3IOD, a CK Hutchinson Subsidiary
This is a tremendous moment of opportunity for Telco’s to reinvent themselves with the customer journey as the driving force for their IT infrastructure decisions. We believe that the technology developed by MATRIXX Software can help every operator achieve its transformation objectives.
Dave Labuda, founder , CEO and CTO, MATRIXX Software
We founded MATRIXX on the principles of digital scale and agility. As a Silicon Valley company, we design software with both the Telco and the end consumer in mind to deliver capabilities that will provide valuable and meaningful change to the way Telco’s operate.
