Intel Capital and IFC Invest US$ 7.8 Million in Altobridge Growth
Mobile World Congress, Barcelona, February 25th 2013: Altobridge (www.altobridge.com), specialists in technology that cuts the cost of delivering mobile voice and data across wireless networks, has today announced that Intel Capital and IFC (International Finance Corporation) has made a follow-on investment of US$ 7.8 million in the company.
This new investment will provide Altobridge with additional capital to accelerate the pace of roll-out of its mobile data optimisation solution, Data-at-the-Edge™, in both urban and rural markets globally.
Data-at-the-Edge™ (DatE™) optimises data delivery for mobile network operators. It is a self-learning, content pre-positioning platform that enables network operators to drive down their data transmission costs while, at the same time, dramatically improving their end-users’ Quality of Experience. The broad spectrum of its functionality includes HTTP acceleration, in-line data and header compression, user data caching at the cell site, data traffic management and least-cost routing.
Since its Series C funding round in 2011, Altobridge has taken DatE™ from concept to full commercialisation, exemplified in the company’s recent announcement of a significant DatE™ enabled, 3G mobile broadband rollout with Maxis Berhad, Malaysia’s largest integrated communications service provider. Meanwhile, commercial trials for urban DatE™ deployment are pending with leading network operators in the US, Europe and North Africa.
“Since our last funding round, we have expanded rural connectivity in Indonesia, Malaysia, Iraq, Niger and Ghana, whilst at the same time we have made Data-at-the-Edge™ a commercial reality. With some industry analysts forecasting a 13-fold increase in global mobile data traffic by 2017, wireless network infrastructures face a major challenge to keep pace with this level of demand. Managing, optimising and caching mobile data at the point closest to consumers’ mobile devices is the key to alleviating backhaul pressure. DatE™ does precisely this, and the way in which we implement it makes it the first commercially deployed solution of its kind,” said Mike Fitzgerald, Chief Executive, Altobridge.
“This growth investment will help fund our cashflow requirements through our continuing growth and it is further testament to the ongoing financial and strategic support provided to us by IFC and our lead investor, Intel,” he added.