Matrixx Software today announced a $40 million Series C funding led by Sutter Hill Ventures. Stefan Dyckerhoff, managing director at Sutter Hill, will join Matrixx Software’s board of directors. Additional new investors include Spring Lake Equity Partners and CK Hutchison, whose 3 Group of telecommunications operators serve over 130 million customers. The round also includes existing investors Greylock Partners, Adams Street Partners, Telstra Ventures, and Swisscom Ventures.
The company has raised about $100 million in total funding, said Matrixx’s Co-founder and VP of Marketing Jennifer Kyriakakis.
The 10-year-old company does what it calls “digital commerce” for telcos. This is essentially a new, software-based method for handling processes traditionally referred to as operations support systems and business support systems (OSS and BSS).
“We take a different route to address those business requirements,” said Kyriakakis. “Instead of the legacy approach that telcos have taken, we’ve developed a single platform that brings together all the product design and pricing into the control plane of the network. It enables the operators to do commerce versus old school billing or pre-pay.”
Currently, Matrixx’s software seems more geared for the consumer market, as opposed to the enterprise market. Its digital commerce platform is based on a mobile app.
“Any time a customer buys something, all the software between the mobile app and the network is the space we fill,” said Kyriakakis. The software authorizes services, executes policies (such as parental control), and allows people to buy services in flexible dollar amounts and usage amounts.
Asked which vendors Matrixx competes against, Kyriakakis said “We’ve looked at the types of things Amdocs does, but also things like the Ericsson’s and Huawei’s of the world do — the NEPs [network equipment providers]. But ours is about real-time engagement with the customers.”
The company’s named customers include Telstra in Australia, Vodafone in New Zealand, Swisscom, and the 3 Group out of the U.K. In addition, Matrixx also claims a Tier 1 telco customer in North America that’s it’s not currently allowed to name.
What About ONAP?
Among the many things that the Open Network Automation Platform (ONAP) open source group is working on is management and network orchestration (MANO), including billing and provisioning of services. And Amdocs is heavily involved with ONAP.
Matrixx isn’t very concerned about ONAP.
“We started in 2009 from a 100-percent software basis from the get-go,” said Kyriakakis. “Our software runs on commodity hardware. A lot of the traditional charging and policy vendors were very box-oriented, producing physical elements that did those functions. As the world shifts to virtualization, there’s a lot of effort to re-architect. We fit into that world already with the ability to do dynamic charging as you allocate resources.”