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February 27, 2007

Dexterra's determined to grow

Posted by Tricia Duryee at 1:32 PM

VentureWire reported today that Bothell-based Dexterra has raised $36 million in a fifth round of funding.

It was only six months ago, the Bothell company, which develops enterprise software for mobile devices, closed an $18 million round.

VentureWire said new investor New Enterprise Associates led the round, joining existing investors Canaan Partners, Intel Capital, Mesirow Financial, Motorola Ventures and Sigma Partners.

According to a release, the money will be for "strategic, measured" growth in 2007, while also working to achieve profitability by the year end.

The company's customers include Motorola and Vodafone.

Since the company was founded in 2002, VentureWire said Dexterra has raised about $88 million.

In this story, co-founder and CEO Robert Loughan explains how the company is set for tremendous growth.

Loughan's essential argument is that fast wireless networks being deployed by wireless operators and highly capable handsets are allowing companies to extend valuable software used inside its walls into mobile workforces.

As if to make the point, Dexterra said today that it has achieved more than 250 percent year-over-year growth since its inception in 2002. In addition, it says analysts are predicting the mobile business software market will be more than $1
billion by 2010.

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Tricia Duryee
Tricia Duryee
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