BlackBerry Partners invests $3M US in Neuralitic Systems
Last Updated: Wednesday, January 21, 2009 | 2:48 PM ET
CBC News
BlackBerry Partners Fund has taken a $3 million US stake in Neuralitic Systems, a Montreal-based firm that provides data services analytics to mobile network operators and communication service providers.
Neuralitic announced Wednesday that the latest funding brings the total investment in the company over the last four months to more than $10 million. The other investors include Vertex Venture Capital, BDC Venture Capital and GO Capital Fund LP.
It's the fourth investment for BlackBerry Partners, which was created last May, and the first one the venture capital firm has made in a Canadian company.
"In the current economic climate, this additional capital will not only confirm Neuralitic's financial credibility in the eyes of our customers but will also allow us to establish permanent local presence in a growing number of high-potential markets," Neuralitic's CEO and co-founder Audry Larocque said in a release.
"We are pleased to have the opportunity to benefit from the strategic input of the Blackberry Partners Fund," he added. "BBPF will definitely bring to Neuralitic a wealth of knowledge and insight on the mobile operators industry."
Using special software, Neuralitic says it can help telecom carriers improve their marketing by analyzing numbers to determine which of their mobile services are most popular with customers.
"Greater insight into real-time performance characteristics of mobile data products and services will help operators to better market their Smartphone offerings, resulting in direct benefits to bottom-line profitability," said Marc Faucher of BlackBerry Partners.
"Neuralitic's solution provides this capability to operators without requiring an extensive network integration effort, overcoming a key hurdle that has hindered this market evolution to date," Faucher said.
The $150-million BlackBerry Partners Fund, which is partly backed by BlackBerry maker Research in Motion Ltd., is focused on making investments in applications, services and supporting infrastructure for the BlackBerry device and other mobile platforms.
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