Mobile Cohesion, the UK based telecommunications software firm, has completed its second major funding round of $4.8m; considered to be one of the largest venture investments this year for any Northern Ireland based technology firm.
The deal was led by Enterprise Equity, a Northern Ireland based venture capital firm, the Company’s existing backers Cross Atlantic and Accel Partners, the Venture growth fund managed by Clarendon Fund Managers and other investors.
This deal provides Mobile Cohesion with new equity to enhance the Company’s position as a relationship management solutions provider to mobile operators globally. The funds will also be used to expand the Company’s current existing customer relationships in other geographic regions in addition to attracting new customers.
Additionally, Mobile Cohesion plans on seizing this opportunity to develop their customer operations organisation and expand their product offerings through R&D.
Mobile Cohesion is one of the UK based leading providers of content management for mobile operators. The Company’s main product, HYDRA, allows operators, MVNOs and Aggregators to achieve partner relationships defined by their own needs. HYDRA allows mobile operators full, real-time control of 3rd party content and applications.
ARC Associates as a specialist investment banking and advisory firm to the TMT, Financial Services and Property sectors. ARC was appointed as financial advisors to Mobile Cohesion to conduct a strategic financial review resulting in the equity raise.
Enquiries:
Mobile Cohesion 028 9091 0500
Per Lindblad/ Denis Murphy
ARC Associates 020 7614 4000
John Allen/ Dana Al-Awadhi