Matrixx Software has raised $12 million in Series B funding to facilitate global expansion. Innovacom,, a venture capital arm of France Telecom, led the round with participation from new investor Adams Street Partners. Innovacom partner Bruno Dizengremel will join Matrixx’s board of directors. Matrixx previously raised $9 million in Series A funding from investors including Innovacom, Tugboat Ventures, and Greylock Partners.
Matrixx makes software that speeds up real-time charging, which carriers are increasingly using outside the prepaid space. Real-time charging lets carriers set spend limits and/or alert customers when they are about to exceed the number of minutes on their contract. It also enables them to manage their risk when selling third party apps and other content. Real-time charging can require a tremendous amount of processing power, and Matrixx offers carriers a more efficient solution, guaranteeing 30,000 transactions per second on a single rack of servers. Matrixx runs on standard Linux servers.
Matrixx says it will use the $12 million to continue expanding in the US and Europe, and to build a presence in Southeast Asia and the Pacific regions. Real-time charging is key to the expansion of mobile services in the developing world, where a large portion of accounts are prepaid, and where many carriers are eager to offer mobile payments services to consumers who may not have a bank account.
Matrixx Software was recently recognized by Dow Jones VentureWire as a member of the FASTech 50. Competitors include Openet and Info Directions.
