Big Data Analytics firm, Flytxt has closed an $11 million funding round to finance its next phase of growth. The investment was led by Sunrise Capital GmbH and Big Data Investments B.V. with participation from Flytxt’s existing investors. The new investment is aimed at supporting the company’s plans to consolidate its presence in the Communication Service Provider (CSP) market and to offer mobile consumer analytics solutions to other industry verticals. Following the latest round of funding, Dr. Brigitte Mohn from Sunrise Capital and Frits Baron van Dedem from Big Data Investments will join the Flytxt Board of Directors.
The company said that it plans to double its team through the next phase of growth and aims to grow its product portfolio for CSPs to generate higher economic value, and leverage its proven technology to expand to other industry verticals.
Joerg Swoboda, Chairman, Flytxt
We are delighted to welcome Dr. Brigitte Mohn and Frits Van Dedem on our Board. Their rich business leadership experience will be a significant asset for Flytxt in the next phase of our growth. The company already has a unique standing in Big Data Analytics market with a sustainable business model, proven technology, impressive customer base and an exceptional team. And the potential is huge.