Carrier IQ, provider of mobile service intelligence solutions for wireless carriers and equipment vendors, has confirmed that despite the adverse prevailing financial market conditions it has raised significant funding. The company has raised $20 million and also attracted key strategic investors including Intel Capital and Presidio Ventures, a Sumitomo Corporation Company.
With this financing round, Carrier IQ’s vision of using data directly from the mobile handset to drive improvements in mobile service performance and usability has been backed both by its existing investors and new strategic investors. This third stage funding round will significantly fuel expansion and product development.
Announcing the investment, Carrier IQ CEO, Mark Quinlivan, said: “To raise $20 million in the current financial climate is a solid endorsement of the company’s success to date and the potential for future growth and expansion in the Mobile Service Intelligence market.
“Even in these tough economic times, Carrier IQ is able to continue investing in our product development and geographical expansion,” he added.
Carrier IQ provides both mobile network operators and handset manufacturers with vital information on mobile voice and data service performance as delivered to each end user and the overall customer experience.
Carrier IQ software, which consists of embedded software on mobile devices and server-side analytics applications, enables mobile operators and device OEMs to understand in detail a wide range of performance and usage characteristics of mobile services and devices. These include both network-facing services such as core voice and data offerings, as well as non-network-facing capabilities such as music players, cameras and other side loaded media, in order to assist with product and service development and roll out.