Wireless - Friday, December 15, 2006
Seven Networks Raises $42M, Gets New CEO
White label wireless e-mail provider Seven Networks has raised $42M in an oversubscribed round of funding. The company said undisclosed new investors joined existing backers, which include Amadeus Capital Partners, Greylock, Ignition, Saints and Softbank Asia Infrastructure Fund.
The company counts Sprint Nextel and Alltel among its network operator partners. UBS says that Seven has the second-largest market share in the mobile e-mail space after RIM. Seven has some big competitors like Good Technology and Visto, but apparently investors think there is still plenty of money to be made here.
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