B2M Solutions picks corporate venture route to fuel future growth

Mobile device analytics business B2M Solutions has closed a funding round involving entrepreneur and investor Kevin Lomax as well as Motorola Solutions Venture Capital.

To fuel its continued growth in the UK and US, B2M Solutions has closed an undisclosed funding round.

Founded by Julie Purves in 2002 following a career spent working for Fujitsu ICL and Intermec, B2M provides analytics tools for business deploying mobile devices on a large scale.

The money secured will be put to work marketing B2M’s products as well as driving growth in the US, where the company is set to open up an Atlanta office heading up sales and marketing.

Kevin Lomax, founder and former chairman of Misys, is joining the company as chairman to accompany his equity investment.

Purves, CEO of B2M, says, ‘With this investment, and with Kevin Lomax’s experience, we are able to accelerate the adoption of our optimisation and analytics solutions for mobile enterprise deployments.

‘We have built our company over the last 12 years and this is a key milestone in our continuing development.’

Also joining the round is Motorola Solutions Venture Capital, the strategic equity investment arm of Motorola Solutions. The division backs what it describes as ‘new idea’ companies that compliment the Motorola Solutions strategy at all stages of growth.

Motorola Solutions itself trades on the New York Stock Exchange and provides communication products and services for enterprise and government clients.

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Tony Palcheck, managing director of Motorola Solutions Venture Capital, adds, ‘Today, mobile analytics primarily focus on the data that is captured within an application. B2M offers the ability to provide analytics at the device level, as well as the system and infrastructure level.

‘B2M’s ability to combine application analytics with lower-level, detailed data on the overall system gives business managers new insight into the utilisation and effectiveness of mobile devices in their operations, and provides keen insights for how to improve those operations.’

Purves says that B2M’s partners and customers are only using a ‘fraction’ of the company’s built-in software offering, providing strong potential growth.

Speaking to GrowthBusiness, Purves reveals that B2M is tapping into the corporate venture capital world in part due to the way in which the organisation understands what the technology business is trying to do, but also to take advantage of links to partner networks.

To read our in-depth interview with Julie Purves looking at B2M’s history and future plans, click here.

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for GrowthBusiness.co.uk from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.

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