Tuesday, April 22, 2008

Red Bend Software Raises $10 Million in Venture Capital - Waltham, MA

Red Bend Software, a Waltham-based developer of mobile software management technology, announced on Tuesday that it has raised $10 million in a venture capital deal led by Coral Capital Management. Other investors in the deal include Carmel Ventures, Greylock Partners, Pitango Venture Capital, Poalim Ventures and Infinity. Founded in 1999, Red Bend said it will use the new funds for sales and marketing as well as to take advantage of new opportunities in licensing its software for other connected wireless devices such as mobile broadband PC cards, USB modems, embedded chipsets and M2M modules. The company also said it will accelerate investment in research and development for its software products portfolio.



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