Monday, November 24, 2008

Red Bend doubles quarterly mobile software shipments over 2007

By Mass High Tech Staff

Privately held Red Bend Software Inc. on Monday is expected to announce that by the third quarter of 2008, vCurrent, the Waltham-based company’s mobile software management platform, had shipped in 410 million mobile devices worldwide, up from the 200 million devices shipped by the same time in 2007.

Founded in 1999, Red Bend makes a firmware-over-the-air (FOTA) product that enables cellular service providers to push out updates to phone firmware automatically.

In its release to be issued Monday, Red Bend reported a number of new devices adopting FOTA, including WiMAX modems and data cards, and machine-to-machine wireless modules.

The company projects it will reach 475 million mobile devices by the end of the fourth quarter of 2008.

In April, Red Bend reported it closed a $10 million Series E round of funding, increasing total capital raised by the company to $34 million.

The funding was led by new investor Minneapolis-based Coral Capital Management. Other investors include Greylock Partners, which operates an office in Waltham, as well as Pitango Venture Capital and Carmel Ventures of Israel.
 

Editor's Note: This online version includes a correction to the first paragraph, which previously had inaccurately described the numbers published by Red Bend. The published figures indicate the total number of phones shipped in aggregate by the given date.