BoxTone, a Columbia, Md.-based provider of mobile service management software, has raised $7.5 million in Series B funding from Lazard Technology Partners.
BoxTone(R), the leading provider of proactive Mobile Service Management (MSM) software solutions, today announced $7.5M in B Round funding from Lazard Technology Partners. This latest investment will fuel the company’s product development activities and corporate expansion as demand for BoxTone’s award-winning enterprise mobility management suite continues to grow.
Highlighting the growing need for solutions like BoxTone’s throughout organizations of all sizes around the world, Aberdeen recently stated, “With 98 percent of enterprises currently or intending to implement mobility initiatives, gaining control of the potential chaos created by the influx of new mobile platforms and devices, the invasion of employee-owned mobile devices used for work purposes, and new mobile software applications becomes paramount.”
BoxTone’s MSM solution is uniquely designed to help organizations gain control of their mobile environments. It is the market’s first automated software solution to enable enterprises, government agencies and Managed Service Providers (MSPs) to centrally manage, secure and support all mobile devices, applications and platforms from a single, unified console.
This funding announcement comes just one week after BoxTone announced record growth in the first half of fiscal year 2010, registering a more than 40 percent increase as compared to the first half of fiscal year 2009. To meet market demand, the company has hired more than 20 new team members since the start of the year, with a similar number of additional hires expected by year’s end.
“Based on the trends we are seeing in the market from our customers, BoxTone predicts that mobile device penetration in the enterprise will surge from a current average of 10-15 percent, to upwards of 80 percent in the next five years,” stated Alan Snyder, CEO, BoxTone. “But the secure provisioning and configuring of all these new mobile devices is just a first step.”
“To realize the full strategic benefits of mobility, enterprise IT organizations need a solution like BoxTone’s that can manage, support and optimize the entire mobile lifecycle for users, devices, platforms and applications of all types. BoxTone will use its $7.5M in B Round funding to extend our dominant position as the leader in proactive Mobile Service Management solutions and continue as the company best positioned to deliver high value to organizations worldwide challenged by a rapidly evolving mobile landscape.”
A BoxTone study earlier this year, “Smartphone Management Survey: An Enterprise IT Operations Perspective,” found that enterprise-connected mobile devices of all varieties are on the rise and that half of all survey respondents said that at least 60 percent of their employees will be smartphone-equipped in the next 24 months. These numbers are fueled by the continued popularity of smartphones in the market, highlighted by record sales of the latest iPhone and iPad devices, with nearly 12 million sold last quarter, and Research In Motion’s growing BlackBerry smartphone shipments, which in the first quarter grew more than 43 percent over the same quarter last year.
BoxTone’s unique focus on end-user experience provides IT mobility staff with deep visibility to the real-time status, health, availability and performance of their mobile users’ devices. The solution spans all the critical aspects of enterprise mobility management, delivering a central point of control with Mobile Device Management (MDM), Mobile User Management (MUM) and Mobile Application Performance Management (MAPM) capabilities. BoxTone’s MSM software supports Apple iPhone and iPad, BlackBerry, Google Android, Nokia Symbian and Windows Mobile devices; BlackBerry Enterprise Server, Microsoft ActiveSync and Good Technology mobile connectivity platforms; and a wide variety of enterprise mobile applications all from a single, unified console.
BoxTone automates mobile management for one in three Fortune® 100 companies, one in four of the largest U.S. federal agencies and one in five of the Am Law 100. In total, more than 250 organizations and MSPs worldwide, representing over 550,000 mobile users depend on BoxTone software to lower mobile total cost of ownership, improve mobile return on investment and enhance mobile quality of service.
BoxTone’s proactive Mobile Service Management (MSM) solution is trusted by more than 250 of the world’s leading enterprises and government agencies, including 85 in the Global 2000, to continuously maintain optimal mobile performance at lowest cost and risk. BoxTone’s single unified mobile management console powered by patented SmartMP(TM) technology delivers the automation, mobile analytics and embedded ITSM-ITIL best practices required to address the entire mobile lifecycle. BoxTone delivers centralized control of all mobile devices, including Apple iPhone and iPad, BlackBerry, Google Android, Nokia Symbian and Windows Mobile; mobile connectivity platforms, including BlackBerry Enterprise Server, Microsoft ActiveSync and Good Technology, and enterprise mobile applications. Learn more from the expert in mobile service management at www.boxtone.com, or call 1 410.910.3344.