News & Events
SNAPin Software Snaps Up Series A Financing to Tackle Mounting Customer Care Costs for Mobile Operators
Frazier Technology Ventures Leads Investment in Innovative Mobile Customer Care and Diagnostic Company
Kirkland, Wash.--December 6, 2004 -- SNAPin™ Software, the first company to improve the wireless service experience by using the mobile phone itself to diagnose and resolve issues, today announced that it has closed a Series A round of venture financing. The investment was led by Frazier Technology Ventures, which was joined by Oak Investment Partners and Hunt Ventures.
“We are really excited about SNAPin -- their software allows mobile operators to offer their best customers a superior quality of service, while also reducing their costs. And, as mobile devices are able to do more things, users need simple ways to be able to take advantage of the increased functionality,” said Dan Rosen, general partner at Frazier Technology Ventures. “SNAPin's unique device-centric approach allows operators to capture this additional revenue and reduce their costs without expensive new network infrastructure.”
SNAPin will use the proceeds to accelerate its product development and expand marketing and sales efforts. In conjunction with the investment, Rosen joins the company's board of directors, and Thomas Huseby, veteran wireless entrepreneur and investor, was named chairman of the board.
“SNAPin's software helps mobile operators capture the revenue they are losing every day because customers don't know how to use new wireless data applications on their handsets,” said Brian Roundtree, SNAPin founder and CEO, who most recently founded wireless start-up Action Engine. “For example, most camera phone owners don't know how to send pictures to other users -- SNAPin's software allows mobile operators to encourage active camera phone users to send multimedia messages, and even show them how to do it. We're thrilled to have the backing and support of these prestigious investors to accelerate our market introduction.”
A renowned technologist, Roundtree has won scientific awards from the National Science Foundation for his research in super-conductors and is also a Computerworld Smithsonian Laureate. Roundtree says SNAPin's innovative, cross-platform technology delivers a dramatic reduction in customer care costs, which can be as high as $30 (€22) per call, and provides user experience and diagnostic data that was previously unavailable.
“With our technology, mobile operators can aggressively launch advanced services and devices without fear of a crushing customer care backlash,” said Roundtree.
Already executing on its expansion plans, SNAPin also announced today that it has expanded its executive team by appointing Jim Jones as vice president, sales and Tom Trinneer as vice president, marketing and product management. Jones brings in excess of twenty years of worldwide sales and management experience to SNAPin, and is a veteran of successful startup companies as well as larger firms, including Sun Microsystems.
Trinneer has a noteworthy history in wireless data having previously developed the world's first browser phone service at McCaw Cellular which later became AT&T Wireless, and brings more than twelve years of mobile experience to SNAPin. More recently, Trinneer led Qpass, an enabler for mobile commerce, through its transition to a software product company, positioning the company for rapid growth.
About SNAPin Software
SNAPin™ Software develops mobile customer care and diagnostic products that lets operators deliver full service satisfaction at self service costs. SNAPin's Care, Diagnostics, Metrics, and Guide products span all mobile platforms, giving operators an unprecedented ability to monitor and manage their subscriber's service experience, while dramatically reducing the cost of providing customer care -- all without requiring new device firmware or increasing network complexity. For more information, visit www.snapin.com.
About Frazier Technology Ventures
Frazier Technology Ventures (FTV) is a Seattle-based, early-stage venture capital firm focused on wireless, communications, and software technologies. The FTV partnership prides itself on working closely with great entrepreneurs to create companies with enduring value. FTV is part of the Frazier Ventures family, which has over $900M in capital under management.
Media & PR contact:
Alani Kalfayan
Communique PR
+1 206.282.4923 ext.118
Alani@communiquepr.com
Upcoming Events
Mobile World Congress
February 11-14, 2008Fira de Barcelona - Barcelona, Spain
Stand 2.1C90, Hall 2, Level 1
CTIA Wireless 2008
April 1-3, 2008Las Vegas Convention Center - Las Vegas, NV Booth 4019
More...
