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Dexrex LLC, a Newton maker of technology to manage mobile text and IM communications, has landed $1 million in angel investment that the company says completes its seed funding round. The funds will help Dexrex move its business strategy toward targeting enterprise customers, according to co-founder and CEO Derek Lyman.
The company, which reported approximately 15 employees late last fall, has “a different sort of focus on integration. It is very important to be able to streamline all of the data streams into one,” Lyman said.
That integration happens through Dexrex’s ChatSync, its recently launched cloud-based enterprise data management service. Using ChatSync, customers can manage all mobile text or instant message (IM) communications, making such things as enforcing security policies and achieving compliance with federal information regulations, officials said.
According to vice president of global business development John Wastcoat, the move by Dexrex to focus more on the enterprise was simply smart business.
“We saw that the commercial applications for this were going to be much greater than those for the consumer,” Wastcoat said.
In August, Dexrex raised the first part of what officials at the time called a $2 million seed round of equity financing from about a dozen angel investors. At the time, Dexrex was based in Amherst, as the company was founded in 2006 by then UMass Amherst students Lyman and Richard Tortora.
With the new $1 million funding, Dexrex has raised about $2.8 million, according to officials. Lyman said the company has been judicious with its use of the funds so far.
“Over the past year or so we have really accessed angel money on an as-needed basis,” he said.
Dexrex’s ChatSync supports enterprise platforms including IBM Lotus Sametime and Microsoft Office Communications Server; consumer IM platforms such as Yahoo, Google Talk, Windows Messenger and AOL Instant Messenger; and for SMS it supports BlackBerry, Windows Mobile, Symbian and Google Android, as well as other SMS and messaging services, according to officials.
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