SOURCE: Red Bend Software

October 25, 2007 10:11 ET

Red Bend Software Named Among Globes 10 Most Promising Start-Ups of 2007

WALTHAM, MA--(Marketwire - October 25, 2007) - Red Bend Software, the market leader in Mobile Software Management and Firmware Over-the-Air (FOTA) updating solutions for mobile devices, today was named among the 10 most promising start-ups by Globes, a leading business and technology newspaper. The competition aims to identify companies that have the greatest chance of future success.

The announcement was made at the Ernst & Young 11th Annual Journey 2007 Conference -- the annual conference held for venture capital funds and entrepreneurs of emerging growth companies in high tech, telecommunication, medical devices and healthcare.

The list of competing companies was selected through a survey of top venture capital funds, serial entrepreneurs and senior executives from leading technology companies in Israel. Following a review of dozens of companies, 10 finalists were selected as the most promising start-ups, based on the following criteria: a promising technology with an existing target market, financial stability, quality of management and quality of investors in the company.

Yoram Salinger, CEO of Red Bend Software, today said, "In the last year, Red Bend has doubled its number of customers and seen a 345% increase in shipments. Being recognized for our success and future potential from Globes and our peers in the industry is truly a great honor."

Red Bend Software, founded in 1999, has developed a ground-breaking, patented approach for performing firmware updates quickly, reliably and cost-effectively on mobile phones over-the-air. Remote firmware updates are performed without requiring the mobile phone consumer to visit a service center, thus enabling manufacturers and operators to decrease their customer support costs while improving user satisfaction.

Red Bend recently celebrated shipping its market-leading vCurrent® Mobile FOTA software on 200 million mobile phones across 117 handset models. In total, 15 manufacturers of mobile phones and machine-to-machine (M2M) devices have adopted Red Bend's mobile software management solutions.

About Red Bend Software

Red Bend Software helps mobile phone manufacturers and network operators to accelerate the adoption of new services and features, respond rapidly to customer needs, and reduce support costs through mobile software management solutions. LG Electronics, Motorola, NEC, Sharp, Sony Ericsson, and other large handset manufacturers use Red Bend's firmware over-the-air (FOTA) mobile client software to quickly and reliably deliver compact firmware updates to more than 200 million mobile phones in the hands of consumers. Founded in 1999, Red Bend Software is a privately held, venture capital-financed company with offices in China, Israel, Japan, Korea, the U.K and the U.S. More information is available at www.redbend.com.

About Ernst & Young

Ernst & Young Israel - Kost Forer Gabbay & Kasierer was established in 1937 and is Israel's largest accounting, tax and business consulting firm. The firm's 1,400 personnel is comprised of approximately 470 accountants, as well as dozens of attorneys, economists, tax professionals, certified business administrators, actuaries, internal auditors, engineers, IT managers, IT security professionals, knowledge management experts and more. The firm's principal areas of expertise are: Insurance, Industry, Financial Services, Retail and Consumer Products, Real-Estate, High-Tech, Venture Capital Funds, CleanTech, HealthCare, Biotechnology and Medical Devices, Non-Profit Organizations, Trade & Services, Kibbutzim, Tourism and Hotel Industry, Transportation and Infrastructure.

For additional information about Ernst & Young's 11th Annual Journey 2007 Conference, please visit the Conference website at www.journey.co.il.

Contact Information

  • Media Contact:
    Matt McCarthy
    Red Bend Software
    (617) 729-3175
    Email Contact