Pontis Networks Inc., a developer of software marketing systems for communication service providers, has raised $19.65 million in its second financing round. Norwest Venture Partners led the round, joined by current investors Sequoia Capital, Accel Partners, and Evergreen Venture Partners.
Western Technology Investments (WTI), which invested $4 million in Pontis in its seed and first rounds, did not participate in the present round. Pontis has raised $44 million since it was founded in 2002.
Pontis CEO Michael Kerbis and Ofer Sheinkin founded the company. Pontis' platform enables wireless communications providers to define new services quickly and efficiently in order to easily install new systems.
The large investment in Pontis says something about the company, and also about the sector. Pontis' software is intended to help service providers increase average revenue per user (ARPU), which is still necessary during a slowdown, and maybe even more so. Norwest partner Dror Nahumi said, “We are extremely impressed with the progress and success Pontis has experienced recently with tier one customers and partners supporting pre-paid, VOD and VAS services."
Nahumi will join Pontis' board. This is his first investment on behalf of Norwest, in his role as the partner focused on Israeli investments. Norwest plans to open an office in Israel in a few months. Norwest manages $2.5 billion, and has invested in 450 companies since it was founded in 1961,
Published by Globes [online], Israel business news - www.globes-online.com - on February 10, 2009
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