MATRIXX Software Adds $12M

Mountain View-based MATRIXX Software, which develops software to help manage subscriber billing and transaction processing for telecom providers, has raised $12M in a new funding round. The firm said the new round was led by Innovacom, and also included new investor Adams Street Partners. MATRIXX said the new funds will go towards its technology, sales in both the US and Europe, and expansion into Southeast Asia and the Pacific region. MATRIXX was co-founded and is led by Dave Labuda; Labuda was previously co-founder of Portal Software, which was acquired by Oracle in 2006. More information »