DALLAS–(BUSINESS WIRE)–June 17, 2003–Koch Ventures, LLC, an early stage venture capital firm, has co-led an investment round of $6.5M in Austin, Texas-based SoloMio Corporation (www.solomio.com),a provider of voice services for mobile telecommunications operators.
Koch Ventures contributed $2.5 million to the Series B round, which also included investment from Partech International and additional funding from earlier investors Austin Ventures and Techxas Ventures. SoloMio’s latest round of investment brings its total venture capital raised to $19.5 million.
SoloMio is also adding Ray Gary, president and principal of Koch Ventures, to its board of directors.
SoloMio, which provides a common services-delivery platform and full suite of network-based services to mobile phone providers, will use the funds to fuel commercial deployments and expand sales of its Smart Call Services Platform and other services worldwide. With SoloMio’s Smart Call Services Platform, mobile operators can increase voice call origination and recapture missed revenue opportunities, while giving mobile phone users new call handling choices that enable them to make, take and return phone calls more easily.
“In looking for successful entrepreneurs to back with capital, Koch Ventures also seeks to identify exceptional opportunities to grow great, sustainable companies that deliver real value. SoloMio meets every test,” said Gary. “SoloMio’s veteran management team has repeatedly delivered high-impact products and grown new companies. The company has also already acquired some of the world’s largest mobile operators as customers, such as Telefonica Moviles (NYSE:TEM). We’re also excited to be partners with SoloMio’s outstanding management team and investors.”
“I am excited to add Koch Ventures to the investment team backing SoloMio,” said Richard Schwartz, president and chief executive officer of SoloMio. “Koch Ventures provides us with deep access to the worldwide market and an ability to leverage Koch enterprises around the world. Koch’s commitment to bringing value to market as well as their deep connections to the business community make them an exemplary relationship for SoloMio.”
About Koch Ventures
Koch Ventures, LLC invests in proven entrepreneurs with the integrity, vision, passion and expertise to build sustainable businesses in growing markets. Koch Ventures provides seed and early-stage capital, as well as business expertise, to companies in enterprise software, IT services, life sciences and communications technology, primarily in Texas and the Southwest. Koch Ventures is headquartered in Dallas, Texas, and is a subsidiary of Wichita, Kansas-based Koch Industries, Inc., an operations, trading and investment conglomerate with subsidiaries in 30 countries. More information is available at www.kochventures.com
About SoloMio
SoloMio Corporation (www.solomio.com) is a privately held global software company and leading provider of value-added services to the mobile operator market. Founded in 2000 as an independent spin-off of Vignette (NASDAQ: VIGN), SoloMio’s value-added services software delivers more ways to make and take mobile calls. Proven to increase voice and data usage, SoloMio’s Smart Call Services Platform enables mobile operators to deliver a range of highly compelling, configurable, operator-branded services that grow their most valuable consumer and business user segments. With a veteran team that has repeatedly delivered high-impact products and grown new companies, SoloMio corporate headquarters are in Austin, Texas, with offices in London and Hamburg.
