Dexterra Raises $21.5 Million, Affirms Growing Market for Mobile Business Software
It’s one of the bigger tech funding rounds as of late. And, not too surprisingly, it’s in the mobile sector. Bothell, WA-based Dexterra, a maker of software that helps businesses manage mobile workflow, has announced it has closed a $21.5 million investment round led by New Enterprise Associates, with previous investors Canaan Partners, Intel Capital, Mesirow Financial, Motorola Ventures, and Sigma Partners also participating. The startup was not specific about how the financing will be used, saying only that it will advance “Dexterra’s mobile business platform and applications” as well as “future opportunity in one of the fastest-expanding segments in the enterprise software market.”
Dexterra, which was founded in 2002, makes software that allows a company’s laptops and mobile devices to connect to corporate servers and access information such as billing records and inventory lists. The software runs on both Microsoft and Linux operating systems, and is designed to make mobile communication and data retrieval more efficient—which is increasingly important as businesses expand their mobile operations. Dexterra has benefited from partnerships with big companies like AT&T, IBM, Motorola, Verizon, and RIM.
The funding round seems to indicate the market for mobile business software is strong, and still growing. “Today’s challenging economic environment makes deciding which companies to invest in more difficult than ever,” said Scott Sandell, general partner at New Enterprise Associates, in a statement. “We are impressed by Dexterra’s revenue traction in both enterprise and carrier markets, strong suite of products targeted at growing markets and unwavering dedication to product excellence and customer success.”