MATRIXX Software announces $50mn in growth funding from Francisco Partners
MATRIXX Software, a global provider of 5G monetisation for the communications industry, announced $50 million (€43.12 million) in growth funding from Francisco Partners, a global investment firm that specialises in partnering with technology businesses.
The investment will accelerate MATRIXX R&D for product innovation in addition to expansion into adjacent market opportunities and customer segments.
Growing over 60% year over year, MATRIXX’s rise has been fueled by the first waves of 5G network investments and rollouts. The last eighteen months have seen a more than 60%+ increase in the number of contracted subscribers for the MATRIXX Digital Commerce Platform, driven by a 50% increase in the total number of customers, as well as expansions of existing relationships. These include key operators such as Dish, Telefonica/O2 Germany and Telstra, who are at the forefront of deploying 5G networks and innovative new service offerings.
Glo Gordon, MATRIXX CEO, says,, “We are thrilled to announce this investment from Francisco Partners to accelerate the realisation of MATRIXX’s vision to be the industry’s go-to monetisation solution. We believe this partnership will enable us to solidify our product leadership while further extending and enhancing the MATRIXX offering across the rapidly expanding 5G ecosystem.” Gordon continues, “With both traditional and new service providers investing heavily in 5G, MATRIXX is the industry’s only commerce platform capable of unlocking the innovative enterprise solutions, new commercial relationships and multi-party business models that will define the future of connectivity.”
To reap the benefit of their investments in 5G networks, telecom operators are increasingly focused on monetisation and next-generation, product-based solutions capable of delivering transformative business agility. MATRIXX is the multi-cloud monetisation platform on the market and is already driving significant gains in market share. To meet growing demand for next-generation charging solutions, MATRIXX will use the funding from Francisco Partners to invest heavily in R&D to continue to evolve and expand product capabilities and solidify their leadership position.
Extending beyond traditional telecom, the adoption of 5G-based solutions opens up new customer segments that require robust, next-generation monetisation platforms. Emerging players in cloud, edge and private networks are forging new business models across industries such as transport, logistics and healthcare that unlock network-based value-chains and revenues. The investment enables MATRIXX to extend into these new customer segments, enabling 5G enterprise solutions within a broad ecosystem of multi-party relationships.
Peter Gingold, who led the deal for Francisco Partners, says, “MATRIXX’s product leadership, robust customer base and impressive track record of growth creates a unique and powerful platform that we believe is well-positioned to continue gaining market share. We are excited to partner with the MATRIXX team to help further accelerate innovation and drive their continued expansion across both market and customer segments.”
Stifel, Nicolaus & Company, Inc. served as financial advisor and Fenwick & West LLP served as legal advisor to MATRIXX Software, Inc. Akin Gump Strauss Hauer & Feld LLP served as legal advisor to Francisco Partners.