Neuralitic Systems

Neuralitic Systems

January 31, 2011 08:02 ET

Neuralitic Secures $8 Million in Series B Funding

MONTREAL, QUEBEC--(Marketwire - Jan. 31, 2011) - Neuralitic Systems, the leading provider of mobile data intelligence (MDI) solutions for mobile operators, has closed an $8 million Series B round of funding. The investment was led by new investor Export Development Canada (EDC), with participation from all existing investors: BlackBerry Partners Fund, BDC Venture Capital, Vertex Venture Capital and GO Capital LP. It will be used to fuel sales growth and scale the company's operations to accelerate the deployment of Neuralitic's Seven Flow MDI platform with mobile operators around the world. With this investment, Neuralitic has raised a total of $20 million in venture capital.

"This round of funding will play an instrumental role in helping us scale our business to meet growing international demand for our SevenFlow platform," says Audry Larocque, Co-founder of Neuralitic Systems. "Neuralitic has been on an incredible trajectory since we launched SevenFlow in 2009. We have received significant investment support and secured a number of multi-million dollar deals with major mobile operators in Europe, Asia and North America. We've also received international recognition for our technology and market success."

"Neuralitic has established itself as a go-to source for creating and delivering mobile data intelligence solutions for mobile network operators, which help those operators close the increasing gap between data traffic growth and revenue growth," says Sean Brownlee, Senior Investment Manager, Equity, EDC. "EDC is always excited about finding and supporting the next Canadian leaders in emerging technology sectors, and in bringing EDC's unique value-add of introducing them to many of the world's leading mobile network operators, particularly in the stronger-growth emerging markets."

SevenFlow, Neuralitic's flagship product, is specifically designed to help mobile operators optimize their marketing initiatives by providing a sophisticated analysis of network, application and data usage patterns. By transparently extracting and analyzing 100% of data usage, from all mobile data subscribers on a wireless network, it provides a 360-degree view of subscribers' and roamers' mobile journeys. SevenFlow has the unique ability to link information about subscribers, devices, and usage and present actionable metrics in a highly usable interface. It is a proven solution that directly impacts the profitability of mobile operators by providing them with greater subscriber insight and the ability to significantly increase subscriber acquisition and retention.

About Neuralitic Systems

Founded in 2007 and backed by well-known venture capital firms, Neuralitic is a leading provider of mobile data intelligence solutions that help mobile operators improve marketing initiatives for data services. SevenFlow™, Neuralitic's flagship product provides actionable insights into existing customer preferences and behaviours to maximize returns on subscriber acquisition and retention investments. The company draws its expertise from employees in a variety of fields related to its core business, including IP infrastructure, business intelligence, high-throughput databases, dimensional data modeling, mathematics and wireless network engineering. Neuralitic has its headquarters and R&D centre in Montreal, Canada and a local presence in the United States, EMEA and Asia Pacific. http://www.neuralitic.com.

About Export Development Canada

EDC is Canada's export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC's knowledge and partnerships are used by more than 8,400 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining and a recognized leader in financial reporting and economic analysis.

About Blackberry Partners Fund

BlackBerry Partners Fund is the leading independent venture capital firm focused exclusively on mobile computing. In collaboration with Research In Motion, along with Thomson Reuters and RBC, the global fund brings capital, resources and unparalleled domain expertise to the partnerships it forms with exceptional entrepreneurs around the world who are shaping the future of the mobile eco-system. The Fund has an investment footprint throughout North America, the United Kingdom and Israel. For more information visit: www.blackberrypartnersfund.com

About Vertex Venture Capital

Vertex Venture Capital, a top-tier Israeli VC with $600 million under management, has an experienced multi-disciplinary team of professionals, an impressive track record of exits through M&A and IPO and a strong international base of financial and strategic investors. Vertex opens doors for its portfolio companies to penetrate markets and find partners and customers in Asia, Israel, North America and Europe. Vertex was founded in 1997 and invests in high technology companies in the areas of broadband and mobile communications, digital media technology and applications, enterprise IT and infrastructure and greentech. For more information, please visit: http://www.VertexVC.com.

About BDC

BDC Venture Capital is a major venture capital investor in Canada, active at every stage of a company's development cycle, from seed through expansion. Its focus is on technology-based businesses with high growth potential that are positioned to become dominant players in their markets. Established in 1975, BDC Venture Capital has invested in over 400 firms to date. It currently manages some $500 million in venture capital investments in the life sciences, information technology and communications, energy and clean-tech technology sectors, as well as investments in funds. Visit http://www.bdc.ca/ for more information.

About Go Capital

GO Capital L.P. is a $50 million venture capital fund that invests in Quebec seed-stage technology firms in the fields of energy and clean-tech technologies, information technology and communications, and life sciences. Go Capital L.P. is managed by its General Partner, the Business Development Bank of Canada (BDC).

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