Israeli mobile optimization co Cellwize raises $24.5m

Cellwize

The funds will boost Cellwize's SON customer-centric cellular network optimization and market presence.

Israeli startup Cellwize, which provides optimization solutions for mobile networks, has raised $14.5 million in a Series A funding round led by Carmel Ventures and Vintage Investment Partners and a further $10 million in a credit facility from Viola Credit (formerly Plenus). The financing will be used to boost Cellwizes SON customer-centric optimization capabilities and to expand its market presence including a planned significant increase in its workforce.

The company was founded in 2012 by chief executive strategist Sasi Geva and CTO Daniel Dribinski, who brought with them extensive experience in mobile communications and optimizations solutions. Already in operation for over two years, Cellwize optimization solutions are implemented in some of the world's leading mobile operators serving over 300 million subscribers. Cellwizes solutions reduce operating expenses, drive measurable improvements in customer experience and maximize overall profitability.

Cellwize CEO Ofir Zemer said, Cellwize has continuously invested in technology innovation and solution leadership, we will now be able to further accelerate our product road map and our market reach to take advantage of new SON opportunities. Our recent growth demonstrates even more, that enabling mobile operators to ensure a high quality of service for subscribers while maximizing profitability is essential in todays highly competitive market space.

Carmel Ventures general partner and Cellwize board member Ori Bendori said, "Cellwize brings an innovative solution to mobile operators that need to provide a superior end-user experience, while adapting their networks to emerging services like OTT, IoT and HD Video. Cellwize's innovative cloud-based technology that is compatible with various RAN vendors and mobile technologies is already adopted by Tier 1 Operators."

Published by Globes [online], Israel business news - www.globes-online.com - on December 2, 2015

Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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