R&D Funds for Customer Data Firm Flytxt

Customer analytics firm Flytxt has closed an $11m round of funding, which it will invest in expansion of its telecom industry software product and to expand the solution into other verticals.

Flytxt offers revenue and customer experience management solutions for communication service providers (CSPs), helping them generate economic value from their existing data, with patent pending technologies covering the activity of more than 600 million mobile consumers. The firm is headquartered in the Netherlands, with additional offices in Dubai and India, and a presence in the UK, France, Singapore, Africa and Mexico.

New funding will also be used to clear the firm's order backlog of close to £100m. CEO Vinod Vasudevan (pictured) comments: 'This investment will help us to serve our customers more efficiently as well as invest in R&D, and grow faster through cloud offerings and channel partnerships'.

Web site: www.flytxt.com .