Dexterra Closes $36 Million Funding Round Led by New Enterprise Associates
Dexterra Achieves Sustained Triple-Digit Annual Growth as Worldwide Demand Grows for Its Mobile Business Platform and Applications
BOTHELL, Wash.--(BUSINESS WIRE)--Dexterra, Inc., the fastest-growing mobile business software company worldwide, today announced the close of $36 million in funding. New investor New Enterprise Associates led the round, joining existing investors Canaan Partners, Intel Capital, Mesirow Financial, Motorola, and Sigma Partners. The funds will be used to position Dexterra for strategic, measured growth in 2007, while working to achieve profitability by the end of the year.
“Adopting The Mobile Way of Business™ is a big priority today for leading companies, and Dexterra’s customers are already benefiting from the most advanced mobile business application platform and most complete software suite on the market”
Dexterra has achieved more than 250 percent year-over-year growth since its inception in 2002, and leading industry analysts predict the mobile business software market will be more than $1 billion by 2010 – one of the fastest-expanding segments in the enterprise software market.
“Adopting The Mobile Way of Business™ is a big priority today for leading companies, and Dexterra’s customers are already benefiting from the most advanced mobile business application platform and most complete software suite on the market,” said Rob Loughan, Chairman and CEO of Dexterra. “In the last year, we’ve grown our global customer base to include marquee brands in every region, our partners have increasingly chosen to bring us into their most strategic opportunities, and we have been recognized by leading analyst firms for setting the pace as a leader in this market. This funding round positions us for continued growth and demonstrates our investors’ desire to back a winner.”
IDC recently included Dexterra in two reports. It named Dexterra as the only mobile enterprise company to watch this year in its annual study, “Ten Emerging Mobile Players to Watch in 2007.” Dexterra was selected due to its unique market vision, strong product concepts, excellent execution and market momentum. IDC also recognized Dexterra as one of several companies in the leadership grid in the analyst firm’s “Worldwide Mobile Middleware 2006-2010 Forecast and 2005 Market Share,” where IDC cited Dexterra’s revenue growth, its experienced management team, and its expanding partner base. In addition, Dexterra was recently positioned by Gartner in the Visionaries quadrant of its Magic Quadrant for Multichannel Access Gateways report in late 2006.
“We are extremely optimistic about Dexterra’s increasing momentum in an enterprise software market segment with almost unlimited potential,” said Scott Sandell, General Partner at New Enterprise Associates. ”With its industry-leading technologies, strong partner eco-system and well-seasoned management team, Dexterra is positioned to become a large and significant company like many of today’s traditional market leaders.”
Dexterra is the fastest-growing mobile enterprise platform and applications company in the world. Dexterra Concert™ – the company’s flagship product – enables IT professionals to assemble, adapt and evolve mobile composite applications using industry standard-based toolsets for both Windows and Java environments. Supporting field service, field sales, asset management, workforce management, and several other mobile business functions, Dexterra’s full suite of industry-specific solutions easily adapt to business process changes, support the largest selection of wireless and mobile devices, and integrate with the greatest number of enterprise back-office systems – all without disrupting companies’ existing enterprise IT environments.
Many of the world’s premier mobile technology companies and industry leaders rely on Dexterra to power their Mobile Way of Business, including Emirates Airlines, IKON Office Solutions, Motorola, Stanford University and the United States Department of Homeland Security. With offices in Seattle, Toronto, London, Cologne, Dubai, Singapore, and Melbourne, Dexterra also partners with technology leaders such as IBM, Microsoft, Accenture, RIM, Cap Gemini, Telstra, @Road, and Cingular. For more information, visit www.Dexterra.com.
IDC, Ten Emerging Mobile Players to Watch in 2007, Doc #204820, Dec 2006.
IDC, Worldwide Mobile Middleware 2006-2010 Forecast and 2005 Vendor
Shares, Doc #204829, Dec 2006
Gartner Research "Magic Quadrants for Multichannel Access Gateways" by W. Clark, N. Jones, M. King. October 6, 2006
©2007 Dexterra Incorporated. All Rights Reserved.