Roamware raises $14 m to fuel global expansion

NEW DELHI: Roamware Inc., the global leader in roaming solutions for mobile communications, today announced that it has raised $14 million in a Series C round of financing.

The company's previous investors, Accretive Technology Partners, DCM - Doll Capital Management and Shelter Capital Partners, co-led the growth-oriented round.

The funds will be used to enhance the company's product line and strengthen global operations to support growing demand for the company's mobile roaming products.

According to global market research from Informa Telecoms & Media's 2005 Global Roaming Report, wireless network operators plan to continue aggressively rolling out roaming solutions, building on an estimated $78 billion in roaming revenues from an estimated total roaming population of 207 million.

"A key driver in the roaming business is the emergence of managed roaming services, enabling operators to maximize revenues by retaining roaming traffic within operator groups or alliances," said Mohan Gyani, Roamware Chairman and CEO.

"With more than 40 installations of our Traffic Redirection application, we are tackling this trend head-on and will continue to foster new innovations that meet the growing demands of the global roaming and value-added services market."