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305 Million Mobile Phones, 29 Licensees and $10 Million in Funding to Fuel What’s Next

By Yoram Salinger
CEO
Red Bend Software

There are many exciting developments happening here at Red Bend.

Our vCurrent® Mobile FOTA software has shipped in more than 300 million mobile phones. This milestone has been reached thanks to your continued support. Over the past year and a half, we have seen our business grow rapidly as firmware updating and device management achieve mass market adoption. According to Ovum, more than half of all new mobile phones are coming to market with FOTA software, and this number is projected to increase to 84% by the end of next year.

With FOTA-enabled phones now widely available, we are working closely with our customers and partners to increase usage of over-the-air software updating. Our innovative Background Updating feature, we believe, sets the new standard in FOTA and significantly improves the mobile user experience by performing the firmware update in the background while the consumer continues to use the phone, without taking the device offline.

As of Q1, we now have 29 licensees of our software products. Red Bend has amassed a wealth of experience and knowledge about best practices in OTA software updating. We recently launched an effort to document best practices in creating “FOTA-friendly firmware.” I encourage you to contact us to learn more and see how we can assist you in efficiently provisioning firmware updates.

Lastly, I am pleased to inform you that Red Bend has closed a funding round of $10 million. The new funds will be used for sales and marketing to grow our position in the mobile market as well as seize new opportunities in licensing our software for other connected wireless devices. In addition, the funds will be used to accelerate investment in research and development to bring you new innovations in mobile software management. Stay tuned to see what’s next.

Labels: FOTA, mobile software management, Red Bend

posted by Red Bend @ Thursday, May 22, 2008 - 9:43 PM 0 Comments