NIJMEGEN, Netherlands & REDMOND, Wash.--(BUSINESS WIRE)--CWR Mobility, the leading provider of mobility solutions for Microsoft Dynamics® CRM, announced today that it has secured Series B financing of US $1.5M (€1.15M) in an investment round led by new investor, HENQ Invest with additional participation from PPM Oost Nederland, and existing investor, TIIN Capital, B.V.
CWR Mobility will leverage the Series B funding investment to build sales and partner coverage in North America, expand coverage in the EMEA and APAC regions, and amplify marketing and demand generation. Additionally, the company will fund product development to add support for rapidly emerging tablet and smartphone platforms such as the iPad® and Android™ platforms, broadening the company’s industry-leading support across iPhone®, Windows® Phone and BlackBerry® mobile devices.
“Since adding smart clients for iPhone and BlackBerry to our Windows Phone platform in January 2010, we have seen tremendous demand and positive feedback from customers and partners,” said Mark H. Corley, CEO of CWR Mobility, Microsoft’s Mobility Partner of the Year in 2010. “The additional resources from this new investment will accelerate our momentum with customers and partners, and will increase the success of our leading mobility solution for Dynamics CRM.”
“We are pleased to lead the Series B investment in CWR Mobility,” said Herman Hintzen, CFO of HENQ Invest. “This commitment presents a great opportunity for us to engage in the mobility sector and invest in a company with a strong leadership team, market-leading products, impressive market momentum, and a track record of continuous quarter-over-quarter success. We are excited to invest in a company right in the middle of its expansion curve, and look forward to watching and sharing in its growth and success.”
Maarten Derks, Managing Partner of TIIN Capital, added, “Having provided the early-stage funding in CWR Mobility for initial product development, we are excited to see how the CWR team built and delivered its market-leading mobile solution for Dynamics CRM. The accolades CWR Mobility has received from its customers, partners, and Microsoft® further underscores our confidence in the company, and made it an easy decision for us to expand our investment in the company.”
CWR Mobility recently completed a highly successful 2010 calendar year in which the company saw demand for its mobility solutions continue to accelerate, added key executives to its corporate leadership team, delivered key product releases including version 4.2 of its flagship product, CWR Mobile CRM, introduced the new Dynamics CRM to Exchange Server Connector product, and was named Microsoft’s 2010 Mobility Partner of the Year.
About CWR Mobility
CWR Mobility is the frontrunner in providing mobile solutions for Microsoft Dynamics CRM. With the most advanced, multi-platform mobile solution based on the Microsoft Dynamics platform, the company sets the standard in the industry for increasing the efficiency and effectiveness of sales and service teams. CWR Mobility and its partners uniquely empower customers to drive business results through rapidly deployed mobile applications.
About HENQ Invest
HENQ Invest is a venture capital firm based in the Netherlands that provides professional support for early stage technology companies and entrepreneurs, predominantly in the ICT, New Media, Mobile and Software sectors.
About TIIN Capital
TIIN Capital is a venture capital firm based in the Netherlands that invests in early growth ICT and medical technology companies, and supports its portfolio companies with capital, know-how and its network. TIIN Capital was founded in 1998 and has invested in more than 50 companies. TIIN Capital invests through its TechFund, TIIN Buy-out & Growth Fund and with its newly raised TIIN TechFund 2.
About PPM Oost
PPM Oost (Participatiemaatschappij Oost Nederland) invests in early stage, innovative companies who are based in the Dutch provinces of Overijssel and Gelderland, especially in the food, health and technology sectors. PPM Oost has invested in more than 100 companies.
Microsoft, Windows and Microsoft Dynamics are either registered trademarks or trademarks of Microsoft Corporation in the United States and/or other countries. iPhone and iPad are trademarks of Apple Inc., registered in the U.S. and other countries. The Trademark BlackBerry is owned by Research In Motion Limited and is registered in the United States and may be pending or registered in other countries. CWR Mobility BV is not endorsed, sponsored, affiliated with or otherwise authorized by Research In Motion Limited. Android is a trademark of Google Inc. Use of this trademark is subject to Google Permissions.