First external investment gives growth equity firm Bregal Sagemount a minority stake, positions MOBI for growth
MOBI, a leading global technology platform that empowers enterprises to manage the complexities of connected device environments, today announces a $35 million investment from New York-based growth equity firm Bregal Sagemount. The raised funds will allow MOBI to capitalize on the hyper-growth of the industry, which analysts predict will reach $3.4B in revenue by 2016. As part of the investment, Bregal Sagemount’s founding partner, Daniel Kim, will join the Board.
MOBI plans to utilize this capital to expand its leadership position in technology, followed by investment in broader go-to-market strategies, including continued global expansion. The next evolution of MOBI technology will be focused on business intelligence and how the company’s platform can help enterprises leverage connected devices in new ways to deliver products and services.
“We believe our technology has a head and shoulders lead over our competitors as it relates to functionality, third party systems integration and analytics,” said Scott Kraege, CEO and Co-Founder of MOBI. “Beyond software, MOBI is powered by more than 250 of the industry’s brightest mobility specialists. Extraordinary service, creative problem solving and project management lie at the heart of our identity as company. Now with this investment, we can grow even further to meet market demand.”
Mobility and connected devices are quickly changing the fundamental ways enterprises are executing business models. Mobile ecosystems have become an elaborately interconnected fabric of third party software applications, network and service providers, and security solutions all running on an endless range of ever-changing devices.
This complexity is driving IT leaders to seek help. MOBI’s platform acts as an integration hub for a wide range of vendors and technologies that touch mobility. MOBI ultimately becomes the central hub from which IT can control, manage and analyze a holistic mobile environment.
“The problem MOBI solves is one that has not been traditionally addressed by a comprehensive software platform. MOBI is experiencing incredible growth and has established itself as a market leader in mobility management,” said Kim. “Their acceleration in new customer wins attests to the enormous pain their solution mitigates.”
In an effort to satisfy the needs of their enterprise clients, Global IT and consulting companies have partnered with MOBI to offer MOBI’s software and services as part of their standard enterprise mobility offerings. Through a balanced go-to-market structure that includes channel partnerships and direct selling, MOBI has experienced tremendous growth including a 32% compound annual growth rate in recurring revenues since January 2012.
“Equally as important as the capital raise was the prospect of a strategic partnership with Bregal Sagemount. These are world-class business minds that will add immeasurable value to our strategic growth efforts,” said Michael Browning II, Chairman and Co-Founder of MOBI.
“We are excited to partner with Scott, Michael and the entire team at MOBI,” said Adam Fuller, vice-president, Bregal Sagemount. “They have built a world-class organization, and we are honored to work alongside such outstanding entrepreneurs with a strong track record of demonstrating consistent and profitable growth.”
Founded in 2009, MOBI provides software and services to help companies manage mobility. MOBI’s cloud-based software centralizes the management of mobile devices by integrating with wireless carriers, EMMs, corporate IT systems, and third-party technology applications that touch a mobility environment. MOBI’s services help organizations deploy, secure, support, optimize, monitor, and decommission mobile devices. For more information:
– Please visit www.MOBIwm.com
– See our Media kit: www.MOBIwm.com/about/mediakit
– Our a blog with details of our growth: www.MOBIwm/announcements/MOBI-Growth
About Bregal Sagemount
Bregal Sagemount is a growth-focused private capital firm with $650 million in committed capital. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $15 million to $150 million per transaction into targeted sectors including software, digital infrastructure, healthcare IT / services, business and consumer services, and financial technology/specialty finance. For more information, please visit www.sagemount.com.
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