Sparus Software raises €4 million to become Europe's leading vendor of mobile device management software
Sparus Software announced today that it has raised €3 million in its second round of financing, which can be extended to €4 million depending on possible acquisitions. Crédit Agricole Private Equity is contributing between €1.8 million and €2.3 million, the remainder being taken up by AXA Private Equity, which had already taken part in the first round.
The company had previously raised €1.1 million in its first round in April 2005, with managers contributing an additional €300,000. The company will devote the new money to consolidating the R&D team in order to strengthen its technological lead and develop its sales and marketing organisation in order to become Europe's leading vendor of device management and security solutions for Microsoft’s Windows Mobile/CE platform.
Franck Delorme, President of Sparus Software, commented: "AXA Private Equity demonstrated its trust in our project during our seed phase two years ago, a critical time for any high-tech firm. We are very proud that they are continuing to show their support and that Crédit Agricole Private Equity has joined them as a shareholder. It shows once again that our investors fully understand the needs of a young company in its different phases of growth and know how to provide the right kind of support."
Created in 2003, Sparus Software specialises in enterprise mobility software. It has a "Microsoft Certified Partner" status and is one of the few French start-ups selected within Microsoft's IDEES sponsorship program, created to help and promote the leaders of the software industry of the future. Sparus Software offers an all-inone, plug & play solution, EveryWAN Mobility Manager, which incorporates the most advanced security, communications management and administration features for mobile handheld devices powered by Windows Mobile™ and Windows CE™, including a breakthrough real-time remote control function for end-user support.
One of the few vendors to offer this type of product on a fast-growing market, Sparus Software has already convinced major customers like Velux France, M6, ELM-Leblanc and Cegedim. Cegedim Group, Europe's leading provider of CRM solutions for the pharmaceutical industry, has chosen Sparus Software's EveryWAN solution under an exclusive global agreement for the administration of its fleet of Windows Mobile terminals.
Antoine Colboc, head of Venture Capital activities at Crédit Agricole Private Equity, said: "I was really convinced with the management team and thought that Sparus Software's product is well suited to target a market with great growth potential. It is a highly innovative solution which genuinely accelerates the implementation of corporate mobility projects, offering both security and reliability for mobile applications using PDAs and smartphones."
Laurent Foata, Director at AXA Private Equity, commented: "We are very pleased with what Sparus Software has achieved over the last two years, not only in terms of R&D, but also in terms of strategic partnerships and customer references. For a start-up, convincing the first customers and partners is always the hardest step. This second round of financing means that we can support Sparus Software in its European expansion, an essential step if the company is to succeed as an international player on the software market."
About Sparus Software (www.sparus-software.com)
Sparus Software, a French software ISV, designs, develops and markets an innovative software suite which enables enterprises to deploy and manage mobile handheld devices over wireless networks (GPRS/Edge/3G and WiFi) in a costeffective way, thereby reducing operating expenses. Sparus Software is a certified "Microsoft Mobility Solutions Expert".
EveryWAN Mobility Manager is an all-in-one, plug & play solution which provides the most advanced functionalities for managing Windows Mobile™ and Windows CE™ mobile devices, including over-the-air security and administration, communication management and real-time remote end-user support.
About Crédit Agricole Private Equity (omnescapital.com)
Crédit Agricole Private Equity is an AMF-accredited asset management subsidiary of Crédit Agricole SA, specialising in private equity investment in non-listed companies across a range of industries. A team of 40 investors operating in several areas (Later-Stage Financing & LBO, Venture Capital, Secondary Market, Mezzanine, Renewable Energies, PPP Infrastructure, liquidity solutions, etc.), manages €1.5 billion through venture and innovation funds. Crédit Agricole Private Equity provides advice and support for business managers implementing growth plans.
About AXA Private Equity (www.axaprivateequity.fr)
AXA Private Equity, an AXA Investment Managers company, with offices in Paris, Frankfurt, London, Milan, New York and Singapore, is a world leader in private equity investments. It offers its partners a wide selections of funds, all with proven returns, across a full range of asset classes (Buyout, Expansion, Venture Capital, Co-investment, Mezzanine, and Primary, Early Secondary and Secondary Funds of Funds.
AXA Private Equity manages and advises private equity funds with assets in excess of €10 billion for some of the world’s leading investors. With a constant focus on transparency, performance and sustainable profitability, AXA Private Equity is distinguished by the expertise of its staff and its international reach.
AXA Private Equity is expanding its Venture Capital activity through its offices around the world, supporting companies at all stages of their growth and offering them an active partnership that accelerates growth and returns. Since 1998, over 40 hightech companies in the information technology and life sciences sectors have put their trust in AXA Private Equity's Venture Capital team.
Crédit Agricole Private Equity:
Antoine Colboc – Tel. +33 (0)1 43 23 96 00 – firstname.lastname@example.org
Franck Delorme – Tel. +33 (0)1 53 25 06 45 – email@example.com
AXA Private Equity:
Laurent Foata – Tel. +33 (0)1 44 45 92 26 – firstname.lastname@example.org
Crédit Agricole Private Equity:
Martine Sessin-Caracci – Tel. +33 (0)1 43 23 90 88 – email@example.com
AXA Private Equity:
Brigitte Julien – Tel. +33 (0)1 44 45 92 35 – firstname.lastname@example.org
Rumeur Publique – Eric Chauvelot – Tel. +33 (0)1 55 74 52 14 email@example.com