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September 4, 2014

Cisco makes another grab at the Internet of Things market

The firm invests in smart services startup ItsOn.

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Cisco says it is investing in ItsOn, a mobile smart services company, for an undisclosed amount as the networking giant makes a further move into the Internet of Things market.

ItsOn, headquartered in California, said it plans to use the funding for expansion outside of the US.

The five-year-old company, which has overall raised $47.5m in funding, provides a cloud-based system, which it claims allows operators change their service plans, manage their traffic and make policy decisions in real-time.

Hilton Romanski, VP of corporate development at Cisco, said the funding would help drive growth in connected mobility for "consumers, businesses and the mobile Internet of Everything".

"ItsOn’s virtual, cloud-based platform combines real time service creation and deployment capabilities with a comprehensive and flexible self-care OSS/BSS, enabling mobile operators to rapidly create and deliver a new generation of personalized, interactive and context-relevant mobile network services," he said.

ItsOn’s CEO Greg Raleigh added: "ItsOn’s platform and Cisco’s products are complementary, providing potential for market accelerating synergies as mobile operators around the world adopt and deploy virtual network systems."

The funding comes after ItsOn was awarded $15.5m in funding by Andreessen Horowitz and an investor group led by Jim Davidson. Other investors also include Vodafone Ventures and Verizon Investments.

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