SMS Vendor TynTec Secures Private Equity Investment

Mobile messaging operator TynTec has accepted a significant minority investment from HarbourVest Partners, a private equity investment firm. HarbourVest investment professionals Alex Rogers and Claudio Siniscalco will be joining TynTec Ltd's Board of Directors.

Robert Wadsworth, Managing Director of HarbourVest, said: "TynTec is the preeminent technology leader in the fast growing enterprise-quality SMS market, and is being relied upon increasingly by its customers to deliver mobile messaging applications in mission critical environments. HarbourVest are strong believers in the continued growth of SMS as one of the world's primary global communication media, and we are looking forward to this new partnership and helping TynTec to achieve global scale."

TynTec says that it differs from traditional SMS providers because the company can offer operator-level SMS services, enabling greater speed, reliability and measurability than standard messaging services. As well as guaranteed delivery in less than 15 seconds, TynTec can also provide full delivery receipts and a guarantee of control and security of the message direct to the handset.

Michael Kowalzik, CEO of TynTec, said: "We are excited to embark on this next phase of growth for our company alongside HarbourVest Partners, and believe that their global presence, combined with their financial and strategic backing will provide TynTec the appropriate platform from which to further execute our global expansion strategy."

Late last year, the company launched a new distributed SMS-Centre (SMS-C) architecture, which includes a 'multi-homed' SMS-C capability as well as dynamic routing in the SS7 network. The company also provides the SMS delivery service for VoIP telco, Skype.

Posted to the site on 26th June 2008