Advent International and Fidelity Ventures Invest in Internet Service Provisioning and Operations Technology Company
Jacobs Rimell, a leading supplier of provisioning and management technologies to online service providers, today announced that it has received $10 million of private equity finance funding from blue-chip investors Advent International and Fidelity Ventures. Jacobs Rimell will use the funds to accelerate the growth of its innovative products for the provisioning of advanced interactive services operated by ISPs, cable TV companies and application service providers world wide. Specific areas of focus will be accelerated development of Jacobs Rimell's APS technology that significantly improves the capabilities of service providers to rapidly create self-service online products. Additionally, the company will continue to expand its strategic alliances and global sales organisation to further the adoption of the company's patent-pending product and comprehensive professional services.
"This is a defining and exciting moment in the history of Jacobs Rimell" said David Jacobs, co-founder and CEO. "Participation in this round from such impressive investors is a strong validation of Jacobs Rimell, our people, our proven products and services and our strategic vision for the future. We plan to utilise the funds to continue our aggresive development of Internet operations support technologies and services for our customers around the world."
John Bernstein, the Advent International partner who will join the Jacobs Rimell board said: "This company has developed a market-leading product, which addresses the key issue faced by innovative service providers today: provisioning and managing multiple services on multiple platforms in 'Internet time'. We are delighted to be able to back this team."
ABOUT JACOBS RIMELL
Jacobs Rimell develops and markets innovative products and services to enable online service providers to develop and operate advanced interactive product packages on a massive scale. Jacobs Rimell's global professional services organisation offers a wide variety of consulting, training and support services to its customers world wide. Typical customers are Internet service providers, telcos, cable TV operators and application service providers.
In APS, Jacobs Rimell has the service provider industry's first proven provisioning product that is based around both LDAP directory and CORBA technologies. Since its initial deployment in customer environments in mid 1999, the product has demonstrated unparalleled strengths in application and infrastructure openness, support for communities, scalability and integration across all areas of a service providers business from billing systems to IP network infrastructure. To address the requirements of the largest telcos and online service providers, APS has been demonstrated to scale beyond 100 million users.
Jacobs Rimell employs over 80 people in offices in London and San Francisco.
For more information:
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