Point Judith leads $6M investment in Vaultus Mobile

BOSTON – Vaultus Mobile Technologies Inc. today announced it has closed on a $6 million expansion round with investors led by Providence-based Point Judith Capital. Also participating were existing investors Susquehanna International Group and IDG Ventures.
Vaultus works with clients to extend existing customer resource management (CRM), help desk and custom applications to mobile devices. “Mobilizing the enterprise” has been the company’s focus since its founding in 2000.
The new capital will enable Vaultus to accelerate its growth, building sales and partnership channels, the company said.
“Mobile is the future of the enterprise application,” David Martirano, a general partner at Port Judith Capital and a member of the Vaultus board of directors, said in a statement today. “Over the next few years, every major corporation is going to have to be sure that any application they deploy be available anywhere at any time. Vaultus is positioned for strong growth, not only because of the market, but because it has the right technology, the right management team and the strong partnerships that will propel it forward.”
The company’s customers – mostly in the financial services, health care and retail sectors – include Merrill Lynch, State Street, ING, E*Trade, Wachovia, Procter & Gamble, Avon, TJX, Genzyme, Cognos, Business Objects and the U.S. Army.
“We are entering one of the biggest opportunities for growth in the mobile market,” said Vaultus CEO David Birnbach. “With the mobile infrastructure now in place, enterprises of all sizes are starting to recognize the potential benefits of mobilizing their applications – and Vaultus is perfectly positioned to become the go-to.
“This injection of capital is what will enable us to bring together the people, partnerships and marketing resources to achieve this goal.”
Vaultus Mobile Technologies Inc. is a developer of business applications for handheld devices. To learn more, visit a href=”http://www.vaultus.com/about/news/article=id&136.php”> www.vaultus.com.
Point Judith Capital is an early-stage venture capital firm focusing on the communications, Internet, health care and information technology sectors; it has a strategic partnership with alternative asset management firm Tudor Investment Corp. Additional information is available at www.pointjudithcapital.com.