SAN FRANCISCO, May 20th 2010 - Sonim Technologies, makers of the world’s toughest Xtreme Performance (XP) rugged phones, today announced $9 million in Series 4 financing. The round was lead by Verdoso Industry and Waveland Capital Groups and also included existing investors. The financing will be used to expand sales and marketing efforts globally, while accelerating the development of three new phone models which will be announced in 2010.
With this investment, Sonim gains diverse expertise and strong relationships which will help the company continue to grow. Paris-based private investment holding Verdoso focuses on middle market direct investments and helps companies either in transition or facing operational challenges. Waveland Capital specializes in investments specific to the information technology industry.
Sonim has also stacked the deck with new board members, Franck Ullmann from Verdoso, John Allen from ARC Associates and John Giere, Senior Vice President, Product and Marketing at Openwave. Richard Long, previously the divisional controller for the mobile 365 business unit at Sybase; also joins the team as Chief Financial Officer.
"Sonim is pleased to work with a world-class group of investors," said Bob Plaschke, Sonim's CEO. "Their deep insight into mobile phone and enterprise market segments will prove invaluable as we continue to grow and diversify our business."
"With its unique technology and commitment to revolutionizing the rugged phone space, Sonim is an outstanding addition to Verdoso’s portfolio of technology investments," said Franck Ullmann, Sonim’s new board member. John Giere noted, "Sonim is uniquely positioned to extend connectivity to environments where people have typically been out of reach. Whether in military, first responder or outdoor environments, Sonim’s phones are a vital resource for those in precarious situations.”
The funding comes on the heels of Sonim’s announcement of the XP2.10 Spirit and XP3.20 Quest Pro; the toughest phones available with an IP67 rating. Both phones are the ideal choice for active users—on a construction site, on an oil rig or climbing a rock face. Like all Sonim phones, the XP3.20 Quest Pro and the XP2.10 Spirit have been tested against Sonim’s stringent Rugged Performance Standard (RPS), developed to ensure the highest quality of phones built for harsh conditions and minimal access to electrical outlets.
