Onset Technology Lands $3 Million in Funding - Waltham, MA
Onset Technology, a Waltham-based developer of software that helps companies comply with regulatory requirements for monitoring and archiving wireless messages, said that it has secured $3 million in a new round of funding, led by the Cedar Fund. The Challenge Fund and Jerusalem Global Ventures also participated. The 12-year-old company said that it will use the proceeds to bolster its research and development activity, expand its support for BlackBerry smartphones and introduce new versions of its software for iPhone, Windows Mobile and Symbian devices. Onset's tools allow companies to scan, block and archive all wireless communications, helping them stay in compliance with regulations from the SEC and NASD, as well as federal rules such as Sarbanes-Oxley.