Hutchison Telecommunications Hong Kong Holdings (HTHKH) parent company CK Hutchison has invested in MATRIXX Software, a developer of digital commerce platforms for operators and related businesses, as part of a $40 million investment round.
The Series C funding round was led by Sutter Hill Ventures, and also attracted the participation of existing investors including Telstra Ventures, the investment arm of Australian operator Telstra.
MATRIXX Software is seeking to reinvent traditional operator business support systems by bringing together disparate applications for product design and lifecycle management, customer engagement, service delivery and monetization into a single platform.
The company plans to use the proceeds from the investment round to fuel its global expansion – the company recently recorded 130% year-on-year growth.
Susan Buttsworth, CEO of CK Hutchison subsidiary 3 International Opportunities Development (3IOD), said the company's investment in MATRIXX Software is a reflection of the fact that operators worldwide are making streamlining their IT infrastructure a top priority.
“Simply recreating existing applications as ‘digital’ isn’t good enough. This is a tremendous moment of opportunity for telcos to reinvent themselves with the customer journey as the driving force for their IT infrastructure decisions,” she said.
“We believe that the technology developed by MATRIXX Software can help every operator achieve its transformation objectives.”