ItsOn Inc. announced on Tuesday that it has received $12.5 million in a Series C round of funding led by Tenaya Capital with participation from existing investor Andreessen Horowitz.
"Tenaya is very excited about our new investment in ItsOn," Stewart Gollmer, Managing Director at Tenaya Capital said. "Our research shows that mobile operators will replace their current, antiquated, hardware-based OSS and BSS systems with 100 percent cloud-based solutions much more quickly than analysts are projecting.”
ItsOn's cloud-based service platform enables mobile users around the world to radically change the mobile experience for their customers. The technology promises to reduce customer churn and drive increased loyalty.
The ItsOn platform simplifies operators' business processes and allows them to more quickly deploy new services at a fraction of the current legacy system costs.
"ItsOn is the only company in the world with a turnkey, end-to-end cloud platform that provides exactly what mobile operators need today in order to overcome current limitations and change the mobile service experience and make it significantly better for the end user," Gollmer added. "ItsOn saves mobile operators a great deal of resources, time to market and money when compared to their current spending. “
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