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Neuralitic Systems Raises Additional Funding from Blackberry Partners Fund - BBPF's US$3 million, combined with earlier contributions by Vertex Venture Capital, BDC Venture Capital and GO Capital Fund, L.P., brings total investment raised to US$10 million

Posted on: Wednesday, 21 January 2009, 09:00 CST

MONTREAL, Jan. 21 /PRNewswire/ - Neuralitic Systems, a Montreal-based firm that provides cutting-edge data services analytics to mobile network operators and communication service providers, announced today that the Blackberry Partners Fund has invested US$3 million for a stake in the firm. The latest funding brings the total investment in Neuralitic over the last four months to more than $10 million.

"In the current economic climate, this additional capital will not only confirm Neuralitic's financial credibility in the eyes of our customers but will also allow us to establish permanent local presence in a growing number of high-potential markets," stated Audry Larocque CEO and Co-Founder of Neuralitic. "We are pleased to have the opportunity to benefit from the strategic input of the Blackberry Partners Fund. BBPF will definitely bring to Neuralitic a wealth of knowledge and insight on the mobile operators industry."

Marc Faucher, Partner with the BlackBerry Partners Fund, stated: "Greater insight into real-time performance characteristics of mobile data products and services will help operators to better market their Smartphone offerings, resulting in direct benefits to bottom-line profitability. Neuralitic's solution provides this capability to operators without requiring an extensive network integration effort, overcoming a key hurdle that has hindered this market evolution to date."

The latest investment by the BlackBerry Partners Fund bolsters Neuralitic's strategic and technological value and complements an already impressive roster of investors that includes Vertex Venture Capital, BDC Venture Capital and Go Capital Fund, L.P.

About BlackBerry Partners Fund

The BlackBerry Partners Fund(TM) is designed to deliver superior returns on the compelling investment opportunity in applications, services and supporting infrastructure for the BlackBerry and other mobile platforms. The Fund's mandate is based on the premise that in the future smartphones will be powerful portable computers for use at home, work, and leisure. The Fund invests in companies developing applications that make smartphones a compelling platform for media, commerce, enterprise, entertainment, and lifestyle applications. The Fund is global in scope, will consider all stages of development and is co-managed by JLA Ventures and RBC Venture Partners. For further information visit: www.blackberrypartnersfund.com.

About Neuralitic Systems

Neuralitic Systems is a venture-backed provider of a data services marketing optimization platform, enabling operators and communication service providers to manage and enhance their data services initiatives. Neuralitic's SevenFlow Analytics software suite enables its customers to capture, store and analyze information generated by IP Services to gain critical business insights into the performance and efficiency of business processes. In addition, Neuralitic offers a range of professional services that complement its product, including implementation, best practices, consulting, customer support and user training. www.neuralitic.com.

SOURCE Neuralitic Systems

Source: PR Newswire

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